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December 19, 2025
António Seladas, CFA
António Seladas, CFA
Portugal – November Coincident Indicators,continue to outperform...
Portugal – November Coincident Indicators continue to outperform. Private Consumption, 3%YoY, shows no signal of slowdown, while the general index, Economic Activity, +2.3%YoY, above the moving averages, shows other sectors are improving.
December 12, 2025
António Seladas, CFA
António Seladas, CFA
November's CPI: Services inflation at 3.5%, surprised...
CPI Portugal final data – November’s CPI: 2.21%YoY (Core 1.90%) o/w - Services inflation, 3.57% below moving averages and Goods: 1.23%, in line with 12MMA. Services inflation adjusted and contributed to lowering the pricing pressure...
December 03, 2025
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, October – Slightly higher interest rates...
Summing up, October’s banking data was slightly different than the recent trend, as time-deposits interest rates slightly increased (I assume saving certificates remunerating above 2%, should create pressure)...
December 02, 2025
António Seladas, CFA
António Seladas, CFA
Budget surplus, cash basis, should finsih the year between €2Bn and €3Bn positive
Quick Comment: the budget execution, keeps performing, surplus on a cash basis +€4.1Bn YtD (until October) and roughly +€830Mn above October 2024...
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