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April 02, 2024
António Seladas, CFA
António Seladas, CFA
Gross Government in February close 100% of GDP, but not sustainable
February’s budget execution, released Thursday evening points to a surplus of €785Mn YtD, -1,556Mn than the same period last year.
April 02, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Economy – Volumes retail sales in February, +3.5%YoY
February’s retail raw sales data, volumes +3.5%YoY; outperformed mainly due to February’s additional day and was mainly Food, +5.9%YoY; as non-Food: +1.6%YoY, disappointed.
March 28, 2024
António Seladas, CFA
António Seladas, CFA
Daily Economic Indicator – The DEI lost steam, over the last few days
The DEI (Daily Economic Index) lost steam over the last few days, March’s data: 7.2%YoY vs. 8.4% the week before, even so the impact over the quarter is smaller, +5.9% vs. 6% the before.
March 27, 2024
António Seladas, CFA
António Seladas, CFA
ESI - The EA is consolidating, while Portugal is improving.
In March the Euro Area ESI is consolidation at low levels, slightly above moving averages, while Portugal has improved and is definitely above moving averages. In Portugal, Services and Consumer sentiment are driving the performance.
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