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February 08, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – The DEI is losing momentum
The economy lost momentum over January and first days of February vs. a peak by the end of the 4Q23. Even so, the DEI remains in positive territory, +4.7%QtD vs. last week 4.9% and two weeks ago 5.6%.
February 01, 2024
António Seladas, CFA
António Seladas, CFA
Quick Comment: Portugal – Daily Economic Indicator – The DEI is losing momentum in Janua
The economy surprised over the 4Q23; GDP +2.2%YoY and +0.8%QoQ, more in line with DEI’s data, December apparently was relevant for quarter’s performance.
February 01, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, December: the sector keeps increasing interest rates on time Deposits
Average remuneration on new Time-Deposits on Individuals, +10bp MoM to 3.10%, a historical high level, while interest rates on new Loans are already coming down and liquidity remains abundant.
February 01, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Economy: Gross Government debt finished the year at 98.7% of GDP, a strong result
Gross Government debt in December went down €4.8Bn MoM to €263Bn and 98.7% of GDP, below 100% and below government target 103%.
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