Portugal Economic Outlook
July 24, 2018Recent data points to a healthy, but relatively slower, pace of economic expansion in the second quarter amid a broader slowdown across the Eurozone. Slower export growth in May against the backdrop of escalating global trade tensions was likely a factor in the drop in industrial production in the same month. Despite the slowdown in exports, the external sector contributed to growth as imports decelerated more sharply than exports. While retail sales picked up steam in May amid stronger consumer confidence following a considerable loss of momentum in April, the retail sector likely lost ground in June amid weakening in confidence among consumers. Business sentiment climbed throughout the quarter, thanks to a more favorable outlook on the construction and public works, and service sectors. Moreover, growth continued to be supported by the ongoing the housing boom: House prices increased more than 12% in the first quarter from a year earlier.
Portugal Economic GrowthAnother year of healthy economic growth is expected in 2018, thanks to higher foreign investment, the flourishing tourism industry and resilient private consumption supported by strong job creation that should lift wages. A greater inflow of foreign investment is also expected to continue driving the housing boom. Nevertheless, growth is expected to moderate from the previous year, owing to an anticipated slowdown in domestic demand. Met the why particular panelists expect the economy to grow 2.2% in 2018, which is unchanged from last month’s forecast, and 1.9% in 2019.
Portugal Economy Data
5 years of Portugal economic forecasts for more than 30 economic indicators.
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|Bond Yield||1.85||-1.90 %||Aug 15|
|Exchange Rate||1.13||0.65 %||Aug 15|
|Stock Market||5,417||-0.02 %||Aug 15|
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Portugal Economic News
July 30, 2018
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 30 July, consumer confidence tumbled to minus 1.4 points in July, down from 1.3 points in June.
June 29, 2018
Industrial production contracted 2.7% year-on-year in May, contrasting a revised 4.3% expansion in April (previously reported: +3.8% year-on-year).
Portugal: Consumer confidence slips to six-month low in June, while economic sentiment improves slightly
June 28, 2018
According to the recent survey of consumer sentiment released by the National Statistics Institute (INE) on 28 June, consumer confidence fell to a six-month low of 1.3 points in April, down from 4.1 points in May.
May 30, 2018
Annual growth in industrial production surged to 3.8% in April, up from a revised expansion of 2.1% in March (previously reported: +1.7% year-on-year).
May 30, 2018
Detailed national accounts figures, released by the Statistical Institute on 30 May, confirmed that the economy lost pace in the first quarter of 2018, following the best quarter-on-quarter result since Q4 2016 in the previous quarter.