Economic climate hadn’t been this good since June 2002

  • ECO News
  • 19 July 2017

Private consumption continues rising, as well as exports, states INE. In addition, the number of unemployed registered in unemployment centers continues decreasing.

The economic climate indicator in Portugal has extended the rise witnessed in the beginning of the year, reaching maximums of 15 years, and the economic activity indicator increased again in May, disclosed INE (Statistics Portugal) this Wednesday in their Monthly Economic Survey.

According to INE, the economic climate indicator increased to 2.1 points in June (2.0 in May). This indicator increased between January and June, reaching its highest amount since June 2002. In addition, the economic activity indicator had an increase between March and May, after having stabilized in February. This indicator has been continuously increasing since August 2016.

Families have also shown positive signs. Private consumption increased in May, alike in April, and non-durable consumption had a more intense positive contribution, both in the purchase of food and non-food products.

Gross fixed capital formation (wealth from Portuguese companies) also increased, ” extending the marked ascending path initiated in June 2016″.

Lastly, it should be highlighted that the number of people who have signed up for unemployment centers continues decreasing: in June, the Institute of Employment and Vocational Training (IEFP) had a total of 418.189 unemployed, a number which continues to be the lowest in over eight years.