In March, the Portuguese indicator of confidence and economic sentiment reached 100.4 points, according to data released by the European Commission. This is the first time, since June 2008, the indicator exceeds 100 points. Also in the sector index improvements in services, industry and retail are verified.
Moreover, the Bank of Portugal evaluated in high economic forecasting for this year in the country, considering that “in 2014 is projected a growth of GDP of 1.2 percent, followed by an acceleration of 1.4 percent in 2015 and 1.7 percent in 2016”, according to the report released by the entity.
“The recovery in economic activity should be supported by an acceleration of private domestic demand, contributing to GDP growth over the horizon”, reads the document. The Bank of Portugal also considers that “exports should maintain robust growth, contributing to the increase in GDP relatively stable”.
Additionally, the Organization for Economic Co-operation and Development (OECD) reported that Portugal advanced composite indicator rose again in February, reaching 102.5 points. This is the 21st consecutive increase for the country and represents the highest in the past seven years.
[photo credit: Colleen Lane]
