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November 21, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – After a stronger October, November is adjusting...
Summing up, November is showing less momentum than October, November month to date; 3.2%YoY (average) vs. October stronger data, +6.6%. Even so, as interest rates are coming down and fiscal policy remains expansionary (expenditures growing...
November 19, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – September External data – Figures keep outperforming
In a nutshell, External data in September kept the positive trend, Current Account Balance surplus, last 12 months, 1.8% of GDP, a record figure. Services continue to outperform, surplus +8.4%YoY and 10.9% of GDP, as Tourism revenues continue...
November 14, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator and Coincident Indicators...
Summing up, the economy keeps performing, namely according to October’s data. The monthly Coincident Indicators, just released, are showing that is mainly consumption, which shouldn’t surprise, as salaries are increasing faster than inflation. Salari
November 14, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – 3Q24 gross earnings per employee increased on average 6.3%YoY vs. inflation around 2.5%
Summing up, average wage increases, over the 3Q24, was 6.3%YoY; is slightly coming down, in September only 6%; even so, real wages remain above 3.5%; as inflation is around 2.5%; supporting private consumption and fuelling inflation, namely...
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