Portugal Economic Outlook
January 29, 2019The economy seemed to remain downbeat in the final quarter, following the third quarter’s marked deceleration in growth which was depressed by falling exports. The external sector continued to perform poorly amid a wider slowdown in the Eurozone, with exports contracting, on average, in the first two months of Q4. Consequently, the current account swung to deficit in the January–November period from a surplus in the same period of last year. Moreover, industrial output continued to decline in October and November. Adding to the stream of grim data, consumer confidence remained in pessimistic territory and business sentiment continued to weaken in the final quarter. Ahead of elections to be held later in the year, the government approved a 10-year National Investment Program on 10 January, which will pour EUR 20 billion into transport, energy and environmental projects.
Portugal Economic GrowthGrowth is expected to lose steam this year amid a broader slowdown in the Eurozone, owing to a weaker expansion in exports. A moderation in domestic demand, reflecting a downturn in the growth of both private consumption and fixed investment, is also expected to weigh on growth. With the European Central Bank set to abandon its ultra-loose monetary policy stance later in the year, tighter global financial conditions pose downside risks to the outlook. FocusEconomics panelists expect the economy to grow 1.7% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.6% in 2020.
Portugal Economy Data
5 years of Portugal economic forecasts for more than 30 economic indicators.
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|Bond Yield||1.59||-1.90 %||Feb 14|
|Exchange Rate||1.13||0.65 %||Feb 14|
|Stock Market||5,087||-0.02 %||Feb 14|
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Portugal Economic News
January 30, 2019
Portugal’s industrial output fell for the eighth consecutive month in December, although the rate of contraction eased markedly.
Portugal: Consumer confidence dives to nearly two-year low and economic sentiment dips again in January
January 30, 2019
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 30 January, consumer confidence continued to worsen in January, marking the fourth consecutive month of deterioration.
January 3, 2019
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 3 January, consumer confidence rose slightly in December but remained in pessimistic territory.
December 28, 2018
Portugal’s industrial output contracted for the seventh consecutive month in November, declining 2.9% over the same month of the previous year.
November 30, 2018
Detailed national accounts data, released by the Statistical Institute on 30 November, confirmed that the economy decelerated in the third quarter due to a contraction in exports amid a wider cooling in the Eurozone.