Unemployment in Portugal
Portugal - UnemploymentThe economy should have recovered somewhat in Q3, although the fallout from the pandemic continued to weigh on activity. Available data shows that industrial production returned to growth in August after declining in July. Moreover, in July–August retail sales shrank at a softer pace than in Q2. However, tourism revenues were still down severely in the same two-month period. Turning to Q4, a surge in cases and implementation of some new restrictions in mid-October bodes ill for activity. In other news, on 12 October the government submitted the draft 2021 budget to parliament. The plan sees a reduction in expenditure to 47.8% of GDP (2020: 49.9%), due to a reduced need for fiscal support as the economy rebounds. The budget aims to strike a balance between supporting the recovery—the government will boost investment and subsidies for lower-income workers—and containing the fiscal deficit.
Portugal - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Portugal Unemployment Chart
Source: Statistics Portugal (INE).
|Bond Yield||0.45||-1.90 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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June 1, 2021
Industrial output rose 36.9% year-on-year in seasonally-adjusted terms in April, which was up from March’s 5.7% increase.
May 31, 2021
A second estimate confirmed that GDP fell 3.3% on a seasonally-adjusted quarter-on-quarter basis in the first quarter, contrasting the 0.2% expansion logged in the fourth quarter of last year.
May 28, 2021
Consumer sentiment jumped to minus 12.8 in May, above April’s minus 17.1.
April 30, 2021
Industrial output increased 5.0% year-on-year in seasonally-adjusted terms in March, which contrasted February's 2.8% decrease.
April 30, 2021
According to a preliminary reading, GDP dropped 3.3% on a seasonally-adjusted quarter-on-quarter basis in the first quarter, contrasting the 0.2% expansion seen in the fourth quarter of last year and marking the sharpest downturn since Q2 2020.