Portugal Economic Outlook
November 21, 2017According to a recently released flash estimate, the economy grew at a swifter pace on a quarter-on-quarter basis in Q3. Behind the increase were higher private consumption that fueled an upturn in retail sales, and an improved performance in exports. The external sector made a positive contribution to growth in the quarter as exports outpaced imports. Moreover, the unemployment rate decreased to an over-nine year low in September. Signaling a continuation in the buoyant momentum, consumer confidence shot up to a record high in October, and business confidence remained stable. Upbeat economic prospects and anticipations of a credit rating upgrade have pushed up investor demand for Portuguese sovereign debt, markedly reducing the premium to hold the country’s 10-year government bonds over its top-rated German counterparts. Consequently, the government was able to auction off EUR 1.25 billion of the bonds at a record-low yield on 8 November, cutting the country’s borrowing costs to an all-time low.
Portugal Economic GrowthSolid private consumption, robust investment and a resilient external sector supported by a stronger Eurozone should keep the economy on a healthy growth trajectory. An anticipated fall in exports growth is, however, expected to moderate the economy’s rate of growth next year. FocusEconomics Consensus Forecast panelists see the economy growing 2.0% in 2018, which is up 0.1 percentage points from last month’s forecast, and project GDP growth of 1.8% in 2019.
Portugal Economy Data
5 years of Portugal economic forecasts for more than 30 economic indicators.
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|Bond Yield||1.86||-1.90 %||Dec 06|
|Exchange Rate||1.18||0.65 %||Dec 06|
|Stock Market||5,381||-0.02 %||Dec 06|
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Portugal Economic News
November 30, 2017
Detailed figures released by the National Statistics Institute (INE) on 30 November confirmed that growth hit 0.5% quarter-on-quarter in Q3 (Q2: +0.3% quarter-on-quarter), amid a wave of strong growth results emerging out of the Eurozone.
November 29, 2017
The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumer confidence plunged to 1.7 points in November, down from 4.4 points in October.
November 14, 2017
According to a flash estimate released by the National Statistics Institute (INE) on 14 November, Portugal’s economy picked up over the previous quarter, but grew at a more subdued pace in annual terms.
October 30, 2017
Industrial production underwent a considerable slowdown in September, growing at a weaker annual pace of 2.8%, down from a stellar 10.4% in August.
October 30, 2017
The survey of consumer sentiment produced by the National Statistical Institute (INE) showed that consumer confidence skyrocketed to 4.4 points in October, up from 0.7 points in September.