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October 10, 2024
António Seladas, CFA
António Seladas, CFA
CPI Portugal–September’s CPI, +2.07%YoY and Core +2.8%. Services +4.5%, remains a source of pressure
Summing up, inflation and core inflation, 2.07%YoY and 2.8%YoY; respectively; in line with preliminary data. Nevertheless, prices are under upwards pressure, Core data and Services prices above moving averages, while Goods are close to nil. So,...
October 03, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – August and September offset a poor July
The average DEI has improved over the month, +2.7%YoY vs. +1.6% the week before and +3%QtD vs. 2.7% the week before. August and September offset a weaker July, even so the quarter performance is slightly smaller than the 2Q24, so it probably means ..
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)...
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