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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.
January 02, 2024
António Seladas
António Seladas
Portuguese Economy - November’s budget surplus: +€6.4BnYtD, a record number
All in all a strong execution again in November. Effective Revenues +10.4%YtD vs. Initial budget 9.2% and Effective Expenditures +5.8%YtD vs. initial budget +8.5%.
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