Current Account in Portugal
Portugal - Current AccountAvailable data for the third quarter suggests that growth moderated from the previous quarter. Retail sales decelerated, on average, in the first two months of Q3, and the industrial sector contracted over the same period. Moreover, consumer confidence lingered in negative territory in September, signaling downbeat private consumption at the end of the period. On 16 October, the government unveiled its 2019 election-year budget, which promises higher public sector wages and subsidized transport costs, while further alleviating the fiscal burden. The budget will target a deficit of 0.2% of GDP, the smallest in the country’s democratic history. A reduction in the elevated government debt burden combined with a sustained healthy pace of growth led Moody’s to upgrade the country’s credit rating from Ba1 to Baa3. Moody’s was the last of the three major credit agencies to lift the rating from junk territory to investment grade, fueling a rally in the country’s sovereign bonds.
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||1.95||-1.90 %||Nov 13|
|Exchange Rate||1.13||0.65 %||Nov 13|
|Stock Market||4,956||-0.02 %||Nov 13|
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November 14, 2018
According to a flash GDP estimate released by the National Statistical Institute (INE) on 14 November, the economy lost pace in the third quarter, with economic growth in quarter-on-quarter, seasonally-adjusted terms weakening to 0.3% from an 0.6% expansion in the second quarter.
October 30, 2018
The performance of the industrial sector improved year-on-year in September, following a notable contraction in August.
October 30, 2018
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 30 October, consumer confidence improved in October from the previous three months but remained in negative territory.
September 28, 2018
Industrial production dipped 2.9% over the same month of last year in August, following a revised 1.3% year-on-year decline in July (previously reported: -1.7% year-on-year).
September 27, 2018
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 27 September, consumer confidence deteriorated marginally and remained entrenched in negative territory.