Portuguese economy improves in July for sixth consecutive month

21 August 2006

Lisbon, Portugal, Aug 21 – The Portuguese economy improved once again in July fopr the sixth consecutive month, according to the coincident indicator published by the Bank of Portugal.

The monthly economic activity coincident indicator, which gives information about the underlying trends of the Portuguese economy, rose 0.6 percentage points in July against the same period of 2005.

In the previous month the indicator had risen by 0.5 percentage points, which suggests that economic activity “continued to show an upward trajectory,” the Bank of Portugal said.

The coincident indicator summarises information on the Gross Domestic Product (GDP), retail sales, sales of heavy goods vehicles, cement sales, industrial output, the financial situation of families, new jobs and the external framework.

On Friday the National Statistics Institute (INE) announced that the Portuguese economic climate indicator rose in July to a 21-month high.

INE’s figures for July showed that the economic climate indicator, which reflects the opinions of business owners from the industrial, construction, retail and services sectors, rose 0.2 percent in the month, after having stabilized in June and fallen in previous months.

In July this indicator reached its highest level since October 2004. (macauhub)