Unemployment Rate in Portugal
The economy continued to expand in Q1. Lower inflation throughout Q1 seemingly boosted private spending, as signaled by retail sales expanding, on average, in month-on-month terms in January–February. That said, industrial production contracted in sequential terms in January and February, while annual merchandise exports growth eased in the same two-month period, likely dented by global headwinds. Additionally, financial conditions tightened during the quarter, which should have taken a toll on investment. Turning to Q2, improvements in business and consumer sentiment in April point to sturdier activity. In other news, on 14 April, Fitch affirmed the country’s ‘BBB+’ rating with a stable outlook, citing a declining fiscal deficit but still-elevated public debt.
Portugal Unemployment Rate Chart
Portugal Unemployment Rate Data
|Unemployment (% of active population, aop)||9.2||7.2||6.6||7.0||6.6|