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January 06, 2025
António Seladas, CFA
António Seladas, CFA
Portugal: November’s job data...
Summing up - the job market in November remained stable at high levels, unemployment rate at 6.6%, slightly above moving averages. The Employed population and the Active population are at record levels at least for the last (15 years)...
January 02, 2025
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – December is surprisingly weak
Summing up, the economy remains volatile, after a strong October, November was weak and December seems even weaker, so 4Q24 GDP’s performance could be impacted…
January 02, 2025
António Seladas, CFA
António Seladas, CFA
Two month is a row of poor budget execution
Quick Comment: Debt performance in November, Maastricht definition, €269.1Bn, -25bpMoM/+88bpYoY and €95.4% of GDP (target YE24: 94.5%), Deposits went down €2BnMoM and explains the monthly improvement. In fact, net debt, after deposits...
December 31, 2024
António Seladas, CFA
António Seladas, CFA
Portuguese Economy – November retail sales, volumes +6.4%YoY, o/w Food: +7.4% and non-Food: +5.7%
Summing up, strong retail sales data in November, as was the case of October, volumes, +6.4%YoY; food: +7.4% and non-Food: 5.7%; above moving averages. Consumers remain upbeat, leveraging on lower interest rates, high real salaries and...
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