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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.
February 28, 2023
António Seladas, CFA
António Seladas, CFA
Portuguese Economy – January real retail sales surprised on the upside
The Portuguese economy began the year in a strong pace, sales growth in general above 3MMA, while inflation remains relevant.
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