Portugal Economic Outlook
March 26, 2019Detailed national accounts data for Q4 2018 confirmed a slight acceleration at year-end, as a rebound in exports lessened the external sector’s drag on growth. Available indicators hint at a loss of traction going into 2019, although growth likely remained healthy. The current account deficit widened in January on a fall in exports, offsetting the impact of higher remittances, while the industrial sector contracted more sharply in the month. Moreover, while retail sales accelerated in January, consumer confidence tumbled to an over two-year low in February, signaling downbeat prospects for household spending. On the upside, S&P Global Ratings upgraded Portugal’s credit rating by a notch to BBB on 15 March, citing improving debt dynamics and balanced growth. The news lifted investors’ appetite for the country’s sovereign debt, hurling the 10-year bond yield close to historic lows.
Portugal Economic GrowthThe economy is set to cool this year, owing to a less dynamic external sector and softer domestic demand. Exports are expected to slow amid choppier waters in the global economy, and tourism activity will also likely moderate. Moreover, private consumption and fixed investment are expected to weaken on tighter credit availability, as less favorable economic conditions weigh on consumer confidence and business sentiment. FocusEconomics analysts expect growth of 1.7% in 2019, which is unchanged from last month’s forecast, and 1.5% in 2020.
Portugal Economy Data
5 years of Portugal economic forecasts for more than 30 economic indicators.
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|Bond Yield||1.17||-1.90 %||Apr 22|
|Exchange Rate||1.13||0.65 %||Apr 22|
|Stock Market||5,360||-0.02 %||Apr 18|
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Portugal Economic News
March 29, 2019
Portugal’s industrial sector contracted for the fourth consecutive month in March amid a wider global slowdown, although the rate of decline eased somewhat from February.
March 28, 2019
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 28 March, consumer confidence slid for the sixth month running in March, falling to minus 10.7 points, down from minus 9.9 points in February.
March 1, 2019
Portugal’s industrial sector contracted at a sharper pace in January amid a broad-based slowdown in the Eurozone, marking the third consecutive month of decline.
February 28, 2019
Detailed national accounts data, released by the Statistical Institute on 28 February, confirmed that the economy picked up slightly in the final quarter of 2018.
Portugal: Consumer confidence continues to tumble, while economic sentiment sees marginal improvement
February 27, 2019
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 27 February, consumer confidence deteriorated for the fifth consecutive month in February.