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July 19, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – May External figures – Services/Tourism keeps outperforming
Current account surplus in May, +2.1% of GDP last 12M; above 12MMA, but already in line with 3MMA. Balance of Goods deficit, in May surprised, went down 11.2%YoY and is now at 8.8% of GDP, below moving averages.
July 18, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – The 2Q24 lost steam at the end
The 2Q24 should have underperformed vs. the 1Q24 (+1.5%YoY) and, apparently, the weakness was more visible by the end of the quarter; even so Private Consumption, improved, in countercyclical.
July 11, 2024
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – July started on the weak side
The economy lost steam over the 2Q24 and is apparently, the weakness remained in place at the beginning of in July.
July 10, 2024
António Seladas, CFA
António Seladas, CFA
CPI Portugal – June’s CPI, +2.79%YoY and Core +2.36%; consolidating, but still above the 2%
Inflation and core inflation, 2.79%YoY and 2.36%YoY; respectively; in line with preliminary data and close to moving averages. Inflation data consolidating at low levels, Services also adjusting, 3.63%YoY
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