Economic activity remains sluggish at the outset of the third quarter with a majority of indicators pointing downwards. In July, industrial output declined 3.0% over the previous month (-4.5% year-on-year), while business confidence deteriorated further from minus 10.3 points in July to minus 16.6 points in August. Moreover, the 3-month moving average of the economic climate indicator continued the downward trend in place since July 2010, inching down from minus 2.3 points in July to minus 2.4 points in August. The deterioration in business confidence does not bode well for a rebound in the industrial sector in the third quarter, after GDP remained flat in the three months to June, according to the preliminary report. Meanwhile, retail sales expanded 2.5% month-on-month in July (-5.5% yoy), which represented the second consecutive positive reading and added a positive note to July's figures. Consumer confidence stepped up slightly from minus 49.4 points in July to minus 49.1 points in August. The August reading reflected an improvement in virtually all components of the survey, while the component relative to economic perspectives worsened.
Economy remains deeply mired in recession
August 30, 2011
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Portugal Economic News
September 30, 2016
Portugal’s industrial production edged up in August after July’s drop.
September 29, 2016
The survey of consumer sentiment produced by the National Statistical Institute showed that the consumer confidence index inched up from minus 12.7 points in August to minus 11.3 points in September.
August 31, 2016
Portugal’s GDP increased a seasonally adjusted 0.3% in Q2 over the previous quarter, according to revised data published by the National Statistics Institute on 31 August.
August 30, 2016
Portugal’s industrial production edged down again in July after June’s rebound.
August 30, 2016
The survey of consumer sentiment produced by the National Statistical Institute showed that the consumer confidence index inched up from minus 13.1 points in July to minus 12.7 points in August.