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Survey: Portuguese consumer sentiment during the coronavirus crisis

Pessimism among Portuguese consumers has decreased, though uncertainty still remains the prevailing sentiment.

Portuguese consumers continue to worry about their families’ health and safety and about the economy. Although fewer people experienced a decline in income and savings in recent weeks, they still expect to cut back on spending across categories, except for groceries. Consumers have been adopting new digital activities, such as online fitness, and they expect to continue using some of them post-COVID-19. Portuguese consumers have been leaving home mainly to shop and meet family and expect to continue doing so in the near future. In addition to lifted restrictions, consumers are waiting for the endorsement of medical authorities prior to engaging in out-of-home activities. Most consumers still believe that the personal and financial impact of COVID-19 will continue to last well beyond two months.

These exhibits are based on survey data collected in Portugal from May 21–24, 2020. Check back for regular updates on Portugal consumer sentiments, behaviors, income, spending, and expectations.

About the author(s)

Ana Paula Guimarães is an associate partner in McKinsey’s Lisbon office; Ignacio Marcos is a partner in McKinsey’s Madrid office, where Jorge Omeñaca is a specialist, Mianne Ortega is a director, and Ester Rufat is a consultant; Yvonne Staack is an expert in the Hamburg office.

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