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June 14, 2024
António Seladas, CFA
António Seladas, CFA
CPI Portugal – May’s CPI, +3.06%YoY, mainly explained by VAT’s impact, roughly 70bp.
The Portuguese Statistic Institute has just released, May’s CPI final data and its subcomponents.
June 06, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – DEI – May remains on the weak side and the 2Q24 below the 1Q24 on an yearly basis
Summing up: The DEI, weekly average, released today points to May: 4.2% vs. 4.7% the week before and almost flat over the quarter at 4.3% (April was reviewed upwards). The economy lost momentum in May and seems weaker on an yearly basis vs. the 1Q24.
June 05, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry; April – Deposits keep growing above Loans.
In April liquidity in the industry remains abundant, the ratio Loans/Deposits is at all-time low, 0.826x; even so the sector keeps overpaying by time deposits
June 03, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Economy: Budget execution and Debt over the 1Q24 under presssure
The budget execution remains poor, deficit on a cash basis in April €1.9Bn YtD and the worst performance on an annual basis (-€3Bn vs. April/23YtD), at least over the last 15 years (excluding 2021, due to Covid19).
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