Lisbon, Portugal, 10 July – The Organization for Economic Cooperation and Development (OCED) has announced that its advanced indicator for Portugal increased in March for the 10th month in a row to reach the highest value in the last five years.
The indicator gauges economic performance and reached 100.1, an increase of 1.3 points over the previous month and an acceleration of the month before, which was 0.5 points.
According to the figures from the OCED, Portugal’s indicator has reached its highest level since 2001.
The half-yearly variation rate in Portugal’s indicator, which aims to pinpoint turning points in the economic cycle nine months in advance, also continued to show improvement to 6.9 percent in May, a rise of 2.2 percent compared to April and therefore indicating an increase in economic activity.
The climb in Portugal’s indicator was above the average for the OCED states, which rose in May for the 13th consecutive month to 109.9 points, the organization said. (macauhub)