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August 14, 2024
António Seladas, CFA
António Seladas, CFA
Portugal: 2Q24 gross earnings per employee increased on average 6.5%YoY vs. inflation close to 2.5%
Summing up, wage increases, over the 2Q24, reached 6.5%YoY, slightly above the 12MMA, while in real terms the gap vs. the core inflation is close to 4%. Strong data, that supports GDP growth based on private consumption.
August 09, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator and Coincident Indicators – DEI has improved over the 3Q24
DEI continues to improve; July: 2%YoY vs. 1.7% the week before, even so figures remain lacklustre
August 02, 2024
António Seladas, CFA
António Seladas, CFA
July’s data, over the week, improved slightly vs. the weeks before
DEI showed a small improvement in July vs. the weeks before. However, data remains fragile, July, +1.7%YoY; is the weakest month, at least since Oct/23. Apparently, the summer will be below expectations.
July 31, 2024
António Seladas, CFA
António Seladas, CFA
Unemployment rate went 26bpMoM to 6.76%, while other measures are showing weakness
Unemployment rate 6.76%, +26bpMoM; while the broad concept also underperformed. Finally Inactive population keeps increasing, while yearly growth rates of Employed population and Active population are slowing down.
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