GDP components · Portugal
Portugal Private Consumption YoY
The Portugal Private Consumption YoY is one part of the national accounts of Portugal: what households spend, what businesses invest, what they earn, or how productive workers are.
- Importance
- Low
- Released
- Monthly
- Currency
- EUR · euro
- Central bank
- The European Central Bank (with the Banco de Portugal)
Latest figures
The latest release for FEB, published on 20 March 2026, came in at 3.1%, down from 3.2% the time before (revised).
Over the last 12 releases it ranged from 2.9% to 4.1%, averaging 3.2%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 20 Mar 2026 | FEB | 3.1% | – | 3.2% ® |
| 20 Feb 2026 | JAN | 3.3% | – | 3.2% |
| 16 Jan 2026 | DEC | 3.2% | – | 3.1% ® |
| 19 Dec 2025 | NOV | 3% | – | 3% |
| 13 Nov 2025 | OCT | 3% | – | 2.9% |
| 17 Oct 2025 | SEP | 2.9% | – | 3.0% ® |
| 18 Sep 2025 | AUG | 2.9% | – | 3.1% |
| 15 Aug 2025 | JUL | 3.1% | – | 3.2% |
| 18 Jul 2025 | JUN | 3.2% | – | 3.4% |
| 23 Jun 2025 | MAY | 3.4% | – | 3.5% ® |
| 15 May 2025 | APR | 3.4% | – | 3.6% ® |
| 17 Apr 2025 | MAR | 4.1% | – | 4.1% ® |
Why it matters
GDP's headline hides its drivers. Household spending is usually the largest part of demand; investment is the most cyclical and tells you about firms' confidence; productivity and labour costs decide whether growth can continue without inflation.
How it is calculated
Statistics Portugal (INE) estimates each component from surveys, tax and trade data, after inflation where noted ("real").
What changes mean
- Strong spending with weak income growth cannot last: watch the savings rate.
- Productivity growth lets wages rise without pushing up prices; unit labour costs show the opposite.
Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the euro and local stocks, and can push bond yields up.
Lower than expected: A weaker figure than expected points to slowing activity: the euro tends to soften and markets price in lower rates.
A short history
The components follow the expenditure approach to GDP set out by Keynesian economics in the 1930s and standardised in the System of National Accounts.
Questions
What is the Portugal Private Consumption YoY?
The Portugal Private Consumption YoY is one part of the national accounts of Portugal: what households spend, what businesses invest, what they earn, or how productive workers are.
What was the latest Portugal Private Consumption YoY?
3.1% for FEB, published on 20 March 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.