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January 29, 2025
António Seladas, CFA
António Seladas, CFA
Portugal: December’s job data...
Summing up - the job market finished the year at record levels, Employed Population above 5.1Mn and Active Population close to 5.5Mn. Meanwhile, unemployed people (the difference) remains stable at 352 000; and unemployment rate, 6.4%...
January 28, 2025
António Seladas, CFA
António Seladas, CFA
Portuguese Economy – December retail sales, volumes, +6.0%YoY, o/w Food: +4.0% and non-Food: +7.5%
Summing up, strong retail sales data in December, as was the case of October and November, +6.0%YoY o/w Food: +4.0% and Non-food: 7.5%; above 12MMA. Consumers kept a strong pace over the 4Q24, leveraging on lower interest rates, high real salaries...
January 23, 2025
António Seladas, CFA
António Seladas, CFA
Portugal – Daily Economic Indicator – 4Q24 GDP should...
Summing up, 4Q24 average DEI: 3.6%; points to 4Q24 GDP to grow in line with prior quarters, between 1.6% and 1.8%. Meanwhile, January average DEI: +0.3%YoY, has improved even so, points to a weaker January. Finally, data remains volatile.
January 17, 2025
António Seladas, CFA
António Seladas, CFA
Portugal – November External data – Current Account...
Summing up, the positive trend at Current Account remained in place in November, surplus as a % of GDP last 12 months, 2%; above 12MMA and in line with 3MMA. Goods account deficit stabilizing slightly below 9%; despite an expansionary...
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