The Portuguese National Statistics Institute (INE) recently reported that, in February, the indicator of economic activity reached 2.8% in homologous terms, being the highest level since September 2010. Also, the cabinet notes that “the indicator of durable goods showed a significant growth in February, extending the upward trend that started in January 2012 and setting the highest since July 2010”.
On the other hand, the Bank of Portugal reported data thatshows that the coincident indicator for economic activity reached 1,2% in March. Similarly, the coincident indicator for private consumption has an increase of 1,6%, representing the highest since August 2010.
Considering this fact, the Portuguese Catholic University expects the GDP will grow 2,2% in the first quarter, in homologous terms. Withal, the Center for Studies of the Portuguese Economy Situation (NECEP) anticipates a growth of 1,4% in 2014 and 2% in 2015; while the Troika and the Portuguese government estimate 1,2% and 1,5%, respectively.
[photo credit: islandjoe]
