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April 17, 2026
António Seladas, CFA
António Seladas, CFA
Portugal – February External data – Tourism is losing steam
In a nutshell, external data in February, remained on the weak side, namely Services surplus, -2.2%YoY and Travel surplus (consolidates into Services): -0.1%YoY...
April 13, 2026
António Seladas, CFA
António Seladas, CFA
March's CPI: Core data at 2% means the second-round effects are still negligible
CPI Portugal final data – March CPI: 2.71%YoY/202bpMoM, above moving averages, and Core data 2.0%YoY; in line with preliminary data. Energy, +5.74%YoY/+6.65%MoM, was the main justification to the strong price change...
April 02, 2026
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, February – Loans volumes continue to grow...
Summing up, February’s banking data maintained the positive trend, despite a small increase in individual new time-deposit average interest rates, +1bpMoM (the first increase since December/23)...
April 01, 2026
António Seladas, CFA
António Seladas, CFA
Portuguese Economy - February's budget execution underperformed
Government Debt increased in February €1.56Bn MoM and is now around 91.2% of GDP (target YE26: 87.8%), above 3MMA...
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