Portuguese economy stabilised last week – Bank of Portugal

  • ECO News
  • 26 August 2021

The country's economy stabilised in the third week of August, continuing to benefit from the easing of Covid-19 restrictions that started at the beginning of this month.

The Portuguese economy continues to grow compared to 2020, although this growth stabilised in the third week of August, according to the Bank of Portugal’s daily economic activity indicator (DEI). The easing of Covid-19 restrictions that began this month, as well as the reduction in new cases, continues to contribute to economic dynamism. Contrary to what happened in July, the economy is growing again compared to the average activity recorded in 2019 and 2020.

“In the week ended on August 22nd, the daily economic indicator (DEI) stabilised compared to the previous week,” the central bank reveals, noting that the “corresponding biennial rate increased in the same period.”

At the moment, in comparison with the average of the last two years (2019 and 2020), the figure has reversed and is clearly on the positive ground: DEI’s weekly moving average compared to the two-year accumulated on August 19 was 1.7% and the daily figure on August 22 was 3.1%.

The next DEI release is scheduled for September 2.