Economic activity and private consumption down in July
Private consumption continued its downward trend in July, according to the Portuguese Central Bank, BdP. Economic activity slowed by 0.1%.
Portugal’s coincident indicator for economic activity in July continued on a decline that began in October and the indicator for private consumption also declined last month, according to figures released on Friday by the Bank of Portugal (BdP).
According to the BdP, “in July, the monthly coincident indicator for economic activity kept the downward trend started in October 2017,” while “the monthly coincident indicator for private consumption returned to a drop compared with the previous month.”
Thus, the monthly coincident indicator for economic activity declined to 1.8% from 1.9% in June, while the monthly coincident indicator for private consumption decreased to 1.6% in July, compared to 1.9% in June, the BdP said.
According to the BdP, “the coincident indicators are composite indicators that aim at capturing the underlying pattern of the year-on-year rate of change of the corresponding macroeconomic aggregate.”
Source: Lusa
