FX.co ★ Portugal Business Climate Steady at 2019-Highs

In October 2025, business confidence in Portugal maintained its position at 2.9 for the third month in a row, marking its highest point since June 2019. Traders displayed increased optimism, with confidence rising to 2 in October up from 0.1 in September. This boost in morale was particularly evident among retailers, whose confidence improved from 3.6 to 4.3, and wholesalers, whose confidence rose from 1.9 to 3.1. Despite a slight decline in enthusiasm among service providers (down to 10.7 from 12.4) and constructors (dropping to 2.4 from 2.7), the overall sentiment stayed positive. Conversely, manufacturers displayed a growing sense of pessimism, as their confidence decreased to -3.7 from -3.