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July 25, 2024
António Seladas, CFA
António Seladas, CFA
Daily Economic Indicator and Coincident Indicators – The month of July has shown some improvement
Recent data at DEI shows an improvement, 0.6%MtD vs. -0.4% the week before. The month performance is improving after a weak start, even so, data remains, in general, weak.
July 19, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – May External figures – Services/Tourism keeps outperforming
Current account surplus in May, +2.1% of GDP last 12M; above 12MMA, but already in line with 3MMA. Balance of Goods deficit, in May surprised, went down 11.2%YoY and is now at 8.8% of GDP, below moving averages.
July 18, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – The 2Q24 lost steam at the end
The 2Q24 should have underperformed vs. the 1Q24 (+1.5%YoY) and, apparently, the weakness was more visible by the end of the quarter; even so Private Consumption, improved, in countercyclical.
July 11, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – July started on the weak side
The economy lost steam over the 2Q24 and is apparently, the weakness remained in place at the beginning of in July.
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