Economic activity stabilises at a maximum of 16 years

  • ECO News
  • 20 November 2017

Economic activity indicator has stabilised in September at 3.1%. This is the highest amount since May of 2001, according to INE (Statistics Portugal). Consumption accelerated and investment deflated.

The economic activity indicator has stabilised in September, for the fourth consecutive month, at the highest value since May of 2001, Statistics Portugal (INE) revealed this Monday. This percentage met the evolution already suggested by the economic climate indicator, which has also remained stable.

According to INE, the economic activity indicator has remained at 3.1%, assuming the moving average of three months. As it had been revealed on October 30th, the economic climate indicator — which also presents a qualitative evaluation instead of a quantitative evaluation, but for which there are data until October — is stable at 2.1% since August.

The quantitative private consumption indicator has accelerated in September, according to INE, which reflects a more expressive contribution of durable goods. Investment has slowed down, just as it has been the case for the past three months. In September, this decrease was justified mainly by the behavior of the machines and equipment’s component. 

GDP’s third quarter data show that the Portuguese economy has grown 2.5% in comparison to the same period of 2016 (less than the second quarter’s 3%), and accelerating 0.5% in comparison to the previous quarter. Although these data result mainly from the first flash estimate, INE has disclosed that consumption has given a greater contribution to growth.