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October 02, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, August – Deposits growth continue to outperform Loans growth...
Summing up, in August, Deposits continue to perform (6.05%YoY) above moving averages, namely Individuals deposits, +7%YoY; while Loans remain depressed, +0.6%YoY, nevertheless Mortgages +1.2%YoY are gaining momentum and Consumer Loans (+3.8%YoY) rema
October 01, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Economy: Budget execution in August underperforms again
Quick Comment: The budget execution underperformed in August in line with past months but July, as Revenues (+7.5%YtD) are underperforming (IRS: -1.9%YtD and VAT: -1.3%YtD) but IRC (+26%YtD) and Social Security contributions (+9.7%YtD)...
October 01, 2024
António Seladas, CFA
António Seladas, CFA
Portugal: August’s job data – Unemployment rate flat at 6.4%; while Active and Employed population..
Hhe job market in August remains stable at strong levels, Active and Employed population are close to record levels, while the unemployment rate at 6.4%, remains at...
September 30, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Economy – August retail sales, volumes +5.4%YoY, o/w Food: +6.2% and non-Food: +4.8%
Summing up, Retail sales in August, volume data, +5.4%YoY; o/w: Food: +6.2%YoY and Non-Food +4.8%YoY; above moving averages and clearly above our expectations.
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