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May 29, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Economy – April retail sales, volumes +1.4%YoY, o/w Food: -0.1% and non-Food: +2.7%
April retail raw sales data, volumes, +1.4%YoY; o/w Food: -0.1% (Easter in March) and non-Food: +2.7%YoY; shows a resilient economy, mainly leveraging on wages increasing above inflation.
May 23, 2024
António Seladas, CFA
António Seladas, CFA
The average Economic Coincident Indicator adjusted downwards in May and reviewed upwards in April.
The average Economic Coincident Indicator, over the last week, adjusted slightly downwards in May and was reviewed slightly upwards in April, meanwhile the economy seems to be stabilizing
May 16, 2024
António Seladas, CFA
António Seladas, CFA
The Economic Coincident Indicator adjusted in April, however Consumption remained resilient, meanwhile the DEI is improving in May
The Economic Activity Coincident Indicator, in April, just released by the BoP, continued to adjust, +1.9%YoY vs. 3MMA: +2.0% and 12MMMA: 2.7%; however Private Consumption keeps outperforming +2.5%YoY vs. 3MMA.
May 16, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – 1Q24 gross earnings per employee increased on average 6.0%YoY vs. inflation close to 2%
Wage increases have remained around 6% or higher for more than a year, in March: 6%YoY and 12MMM (12 months moving average): 6.4%. Meanwhile, inflation is coming down, March +2.3%YoY and 12MMA: 2.9%.
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