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January 07, 2025
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, November...
Summing up, Deposits continue to outperform, +7.9%YoY/1.2%MoM; while total Loans are also starting to perform, 1.9%YoY/0.43%MoM, namely “Mortgage Loans” +2.9%YoY and “Consumer and Other Purposes Loans” +4.2%....
January 06, 2025
António Seladas, CFA
António Seladas, CFA
Portugal: November’s job data...
Summing up - the job market in November remained stable at high levels, unemployment rate at 6.6%, slightly above moving averages. The Employed population and the Active population are at record levels at least for the last (15 years)...
January 02, 2025
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – December is surprisingly weak
Summing up, the economy remains volatile, after a strong October, November was weak and December seems even weaker, so 4Q24 GDP’s performance could be impacted…
January 02, 2025
António Seladas, CFA
António Seladas, CFA
Two month is a row of poor budget execution
Quick Comment: Debt performance in November, Maastricht definition, €269.1Bn, -25bpMoM/+88bpYoY and €95.4% of GDP (target YE24: 94.5%), Deposits went down €2BnMoM and explains the monthly improvement. In fact, net debt, after deposits...
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