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August 29, 2024
António Seladas, CFA
António Seladas, CFA
DEI - August improved after a weaker July, even so, the quarter should underperform
The DEI recovered in August, +4.6%YoY vs July: 2%; however the 3QtD: 3.1% is on the weak side vs. prior quarters. So, unless September surprises, the quarter should underperform.
August 29, 2024
António Seladas, CFA
António Seladas, CFA
July’s job data – Unemployment rate went down 21bpMoM to 6.18%; clearly below moving averages
The job market surprised in July, unemployment rate 6.2%, -21bpMoM, below moving averages, while past data was reviewed downwards clearly pointing to a stronger job market than past data was showing.
August 29, 2024
António Seladas, CFA
António Seladas, CFA
Economic Sentiment Indicator – Data in Euro Area slightly improved and in Portugal deteriorated
Euro Area ESI recorded a small improvement +60bp MoM, figures are now slightly above moving averages, even so, the economy remains dormant, namely the Industry.
August 22, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – August outperforms, after a softer July
DEI clearly recovered in August, +4.8%YoY vs. 4.3% the week before. Meanwhile the 3QtD is now at 2.9% vs. 2.4% before, as July was on softer, +2%YoY
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