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March 10, 2023
António Seladas, CFA
António Seladas, CFA
Portugal – February’s CPI: Prices are adjusting at a slow pace, showing resilience
The base effect is avoiding higher inflation, however prices are showing an unexpected resilience. In March the bulk of annual price increases should be completed and the base effect will be more important
March 03, 2023
António Seladas, CFA
António Seladas, CFA
Portuguese Banking Industry, January – The banking sector remains in a very favourable environment
The environment remains very positive to the banking sector, despite higher interest rates on Deposits and lower Deposits volumes on a monthly basis, as interest rates on Loans keep increasing; so our proxy for the NIM is reaching record levels.
March 01, 2023
António Seladas, CFA
António Seladas, CFA
Portugal: January’s job data – Unemployment rate is increasing
The unemployment rate increased to 7.12% for a total of 374 000; more 19 600MoM people. Nevertheless, it was mainly due to an increase in the Active Population, +43 600MoM, of which unemployed: 19 600MoM and Employed: 24 000MoM.
March 01, 2023
António Seladas, CFA
António Seladas, CFA
Portuguese Economy - January budget execution outperformed, surplus increased €184Mn or 10%YoY
January’s budget execution performed positively, surplus increased €184Mn or 10%YoY to €2Bn and the deficit on a trailing cash basis (last 12 months) is at 1.4% vs. 1.5% in December and 3.5% in Jan/22.
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