Current Account in Portugal
Portugal - Current AccountA preliminary GDP estimate showed that the economy sped up slightly in the second quarter, likely owing to a strong expansion in domestic demand. Looking at hard data from Q2, average annual growth in retail sales lost pace, however, which suggests private consumption weakened in the quarter. While export growth sped up, the trade balance sunk deeper into negative territory. On the positive side, the economy continued to attract a significant number of tourists, which translated into a double-digit rise in tourism revenues in H1. Going into the third quarter, prospects for private consumption appeared downbeat as consumer confidence entered pessimistic territory for the first time in 16 months. Business sentiment, on the other hand, rose slightly on improved output expectations in the manufacturing sector, reaching the highest level since May 2002. While public debt—thanks to the amortization of EUR 6.6 billion worth of government bonds—and non-financial private sector debt have steadily declined, both remain at elevated levels.
Portugal - Current Account Data
|Current Account (% of GDP)||1.6||0.1||0.1||0.6||0.5|
5 years of economic forecasts for more than 30 economic indicators.
Portugal Current Account Chart
Source: Bank of Portugal (BP).
|Bond Yield||1.88||-1.90 %||Sep 20|
|Exchange Rate||1.18||0.65 %||Sep 20|
|Stock Market||5,359||-0.02 %||Sep 20|
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August 31, 2018
Detailed national accounts data, released by the Statistical Institute on 31 August, confirmed that the economy picked up slightly in the second quarter of 2018.
Portugal: Consumer confidence remains in pessimistic territory, while economic sentiment stabilizes in August
August 30, 2018
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 30 August, consumer confidence showed marginal improvement but remained entrenched in negative territory.
August 30, 2018
Industrial production contracted 1.7% over the same month of last year in July, following a revised 0.2 % year-on-year decline in June (previously reported: -0.9% year-on-year).
August 14, 2018
According to a flash GDP estimate released by the National Statistical Institute (INE) on 14 August, the economy picked up slightly in the second quarter, with economic growth in quarter-on-quarter, seasonally-adjusted terms inching up to 0.5% from 0.4% in the first quarter.
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.