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Portugal business confidence hits record low

LISBON, Feb 26 (Reuters) - Portugal’s economic climate indicator, which measures business confidence, slumped to a record negative reading of 2.9 in February from January’s minus 2.5, the National Statistics Institute (INE) said on Thursday.

It was the weakest reading since the start of the series in 1989, the institute said. This month’s fall in business confidence marked its ninth straight month of declines and fourth consecutive record low.
The consumer confidence indicator was at a negative reading of 53.9 in February—also a record low—and down from minus 50.0 in January, INE said.