
Portugal Economic Outlook
May 31, 2022
After Q1’s surprisingly positive GDP figures, growth appears to be normalizing in Q2. In April, consumer sentiment remained quite downbeat due to the war in Ukraine, while inflation continued to spike, which is likely to weigh on consumer spending. On the other hand, business confidence ticked up in April, while the tourism sector performed robustly during the same month. The stronger-than-expected recovery, coupled with a degree of public spending restraint, led Fitch Ratings to revise the country’s outlook from stable to positive in early May, while the finance minister vowed to reduce the public debt at a faster pace to help ensure financial stability. The European Commission recently drew attention to upward pressure on public spending stemming from the country’s sizeable public sector wage bill, while the IMF has called for measures to bolster pension sustainability.Portugal Economic Growth
The GDP growth estimate for 2022 was revised significantly upwards this edition, as panelists factored in an unexpectedly strong performance during Q1. Growth will be fueled by a recovery in tourism, robust household spending amid a solid labor market and EU fund inflows. However, the prolongation of supply chain disruptions and the war in Ukraine pose downside risks. FocusEconomics Consensus Forecast panelists see GDP growing 5.3% in 2022, which is up 0.7 percentage points from the previous month’s forecast. For 2023, the panel sees GDP climbing 2.3%.Portugal Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Portugal Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 0.45 | -1.90 % | Jan 01 |
Exchange Rate | 1.12 | 0.65 % | Dec 31 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Portugal Economic News
-
Portugal: Industrial output dips in April
June 3, 2022
Industrial output dropped 1.8% year-on-year in seasonally-adjusted terms in April, which contrasted March's 0.7% increase.
-
Portugal: Activity gains traction in Q1
June 3, 2022
According to a preliminary estimate, GDP growth improved to 2.6% on a seasonally-adjusted quarter-on-quarter basis in the first quarter, from 1.7% in the fourth quarter of last year.
-
Portugal: Consumer sentiment improves but economic climate weakens marginally in May
June 1, 2022
Consumer confidence improved to minus 30.1 in May, up from minus 32.9 in April.
-
Portugal: Industrial output rebounds in March
May 5, 2022
Industrial output increased 0.5% year-on-year in seasonally-adjusted terms in March (February: -4.1% s.a.
-
Portugal: GDP growth accelerates in the first quarter of this year
May 2, 2022
According to a preliminary estimate, GDP growth accelerated to 2.6% on a seasonally-adjusted quarter-on-quarter basis in the first quarter of this year, from 1.7% in the last quarter of 2021.