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September 03, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, July – Deposits keep growing above Loans,
Deposits keep growing (+5.19%YoY) above Loans, even so Loans are already growing on an yearly basis(+0.3%YoY), mainly because Consumer Loans (+3.3%YoY) and Mortgages (+0.5%YoY),
September 02, 2024
António Seladas, CFA
António Seladas, CFA
Quick Comment: Portuguese Economy: Budget execution in July suprised
Strong surprise of the budget execution in July, on a cash basis, the government budget is now positive, roughly €1.06BnYtD, even so less €904Mn than in July 2023.
August 30, 2024
António Seladas, CFA
António Seladas, CFA
July sales volumes: Food: +2.2%YoY; below moving averages
Retail sales in July, volume data, +3.0%YoY; above 12MMA: 2.2% but below 3MMA: 3.8%; leveraged on non-food sales +3.7%; as Food sales: +2.2%; adjusted from abnormal prior data (3MMA: 5.4%).
August 29, 2024
António Seladas, CFA
António Seladas, CFA
DEI - August improved after a weaker July, even so, the quarter should underperform
The DEI recovered in August, +4.6%YoY vs July: 2%; however the 3QtD: 3.1% is on the weak side vs. prior quarters. So, unless September surprises, the quarter should underperform.
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