LISBON: Portugal’s economic climate indicator rose in February, interrupting a downward trend that began in September. The Portuguese National Statistics Institute (INE) reported, the latest economic summary for the country said that the economic climate indicator, “which had fallen between September and January, increased slightly” to 0.7 points (from 0.6 points in January).
The economic activity indicator fell to 2.3 points in January, from 2.6 points in December. According to the INE, where economic activity from the point of view of production is concerned, “it is worth noting that the indexes of sales volumes in industry and services showed negative nominal values in January [that were] less accentuated than in the preceding month, which could reflect above all, negative changes in prices.”
In the case of industry, it continued, “the change in the respective price index remained negative and the index of industrial production, although decelerating, showed positive growth in January.”
On the spending side, the INE noted, the quantitative indicator of private consumption showed “less intense” year-on-year growth in January, reflecting a decelaration in current consumption. In the same month, the indicator for gross fixed capital formation slowed “significantly”, above all as a result of its construction component, it said.
