Monthly Economic Survey, September 2013, INE

Page created: Thursday, 17 October 2013 12:00GMT | Updated: Wednesday, 2 April 2014 11:02GMT

Press Release:  17 October 2013 - 3 Page(s)
Consumption  GFCF  Inflation  Investment  Short-term Indicators

The economic sentiment and the consumer confidence indicators for the Euro Area (EA) recovered significantly in September. In the same month, the raw materials and oil prices presented monthly change rates of -0.3% and 0.0% (-2.2% and 1.3% in August), respectively.
In Portugal, the economic climate indicator maintained in September the upward movement observed since the beginning of the year, after attaining the minimum of the series in December. The economic activity indicator increased in August, registering the maximum since July 2011. Information from Short-Term Statistics revealed less intense year-on-year reductions in services and in construction and public works, while in industry was observed a negative evolution in August. The private consumption indicator increased in August, due to the positive contribution of both components, non-durable consumption and durable consumption, especially in the first case. The Gross Fixed Capital Formation (GFCF) indicator recorded a less intense year-on-year decrease in August, reflecting the evolution of the construction and the transport material components. Concerning the international trade of goods, in nominal terms, exports and imports decelerated, registering year-on-year change rates of 2.3% and 3.1% in August (4.0% and 3.2% in the previous month), respectively.
The 12-month average rate of the Consumer Price Index (CPI) was 0.8% in September (1.0% in August). The 12-month average rate of the Harmonized Index of Consumer Prices (HICP) decreased to 0.9% (1.1% in the previous month). In September, the differential between the Portuguese HICP and the EA HICP was -0.8 p.p. (-0.7 p.p. in August).

Original title:  Private consumption and investment recover again in August. Nominal exports and imports decelerate. - September 2013