Activity indicators suggest that the economy remains resilient
The Bank of Portugal coincident indicators accelerated, in particular private consumption synthetic indicator accelerated to 3.0% yoy in November; and the EC’s economic sentiment indicators performed better than in Q3 months. For 2025, the economy is seen to remain resilient, driven by private consumption supported by strong gains in disposable income and robust labour market; investment that should accelerate taking advantage of the acceleration of RRP and news that a huge amount of investments have been contracted between AICEP (Agency for Investment and Foreign Trade of Portugal) and private companies.