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January 08, 2024
António Seladas, CFA
António Seladas, CFA
Portugal: November’s job data – The job market remains robust
The job market remains strong and clearly outperforming our expectations. So, any slowdown in the economic activity, while employment remains strong, should be seen as less worrying.
January 05, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, November
Summing up, remuneration on new Time-Deposits on Individuals, +5bp MoM to 3.00%, +69bp in two months. Meanwhile our proxy to the NIM is at 2.26%; a low figure and slightly below a long term average.
January 05, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – DEI remains upbeat, pointing to a favourable quarter
Summing up: the DEI (Daily Economic Index) remains upbeat and stronger than our expectations, the weekly average figure, 4QtD, is now at 6.1%YoY vs. the week before 5.9% and two weeks ago 5.3% (please see the graph below).
January 02, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Economy: Gross Government debt should finish the year between 1% and 2% above GDP
Net debt, after Deposits was flat MoM in November and -61bp YoY, which is an historical result, a decrease in absolute terms on yearly basis, the performance should improve in December.
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