Portugal Economic Outlook
The economy seems to have sustained momentum in the second quarter.
A faster upturn in retail sales, on average, in April–May signals a pick-up in private consumption growth amid less downbeat confidence among households in the quarter. In the same two months, construction activity gained traction, while the contraction of the industrial sector eased, mainly on a rebound in mining.
Meanwhile, export growth was up in April–May, chiefly on sales of transportation equipment, parts and accessories.
On the downside, tourism activity slowed in May and is set to weaken further if fuel-tanker drivers go on strike during the peak holiday season in August as has been threatened, while fuel shortages will disrupt wider economic activity.
In addition, there are signs that the labor market has maxed out, with the unemployment rate creeping up and employment growth slipping, which could thus curb consumption spending.
Consultoria, aconselhamento e esclarecimento no Endividamento das Famílias e das Empresas não Financeiras. Consultadoria Estratégica Económica, Financeira e Bancária. Indebteness Consultancy for Family's and Enterprises. General Banking, Economics and Financial Strategic Consultancy.
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