OECD sees Portugal’s economy continue to stabilise
Portugal continues in the opposite direction of the United States and the Eurozone, in particular Germany, that show signs of slowdown.
The Eurozone economy is expected to continue to slow down over the next six to nine months, especially in Germany, and the United States, anticipate the Organization for Economic Cooperation and Development (OECD) composite indicators. Portugal continues in the opposite direction, after starting to stabilise its growth rate in recent months.
The German economy is showing several signs of slowing down. In the second quarter it contracted and may even enter recession already in the third quarter if the data remains negative. Also, this Monday the data on industrial orders were more negative than expected, especially due to the reduction in domestic demand, anticipating further problems.
In the Portuguese case, the composite indicator calculated for Portugal showed signs of slowing down for almost a year, but has been improving in recent months, with gains that, although residual, are bringing it closer and closer to the long-term average.