Portugal’s economic activity index ‘virtually stable’ in March
An indicator released by the Bank of Portugal shows that the Economic activity in Portugal was "virtually unchanged" last month.
Economic activity in Portugal was “virtually unchanged” in March while the indicator for private consumption declined, according to a lagging indicator released by the Bank of Portugal, which stressed that the data did not yet reflect the impact of the Covid-19 pandemic.
“In March, the monthly coincident indicator for economic activity remained virtually unchanged, while the monthly coincident indicator for private consumption declined, prolonging the trend started in November,” the bank reported in a statement released on Friday.
According to the institution, the data do not yet reflect the impact of the Covid-19 pandemic on the economic situation of households and firms.
“The set of information used to calculate the coincident indicators for the month of March includes variables available in some cases only for February and, in the case of qualitative information available for March, the collection of the information occurred mostly in the first half of the month,” it stresses.
Coincident indicators are composite indicators that seek to capture the underlying evolution of the year-on-year change of the respective macroeconomic aggregate.
