Portal do INE - Canal Rss - Notas de Imprensa Rss Feed By INE http://www.ine.pt INE - Portugal http://www.ine.pt/img/s_logotipo.gif Portal do INE - Canal Rss - Notas de Imprensa http://www.ine.pt <![CDATA[The median house rental value of new lease agreements increased by 11.6% and the number of new lease agreements increased by 4.5% compared to the same period of the previous year]]> In 2023 (results for the last 12 months ending in the 2nd semester of 2023), the median house rental value of new lease agreements in Portugal was 7.21 €/m2, with sub-regions of Grande Lisboa (11.93 €/m2), Península de Setúbal (8.92 €/m2), Algarve, Região Autónoma da Madeira (both with 8.33 €/m2) and Área Metropolitana do Porto (7.98 €/m2) recording higher values than the national one.

In the 4th quarter of 2023, the median house rental value of the 23 637 new lease agreements in Portugal was 7.71 €/m2. This value represents a year-on-year growth of 11.6%, higher than that observed in the previous quarter (10.2%). When compared to the 4th quarter of 2022, the number of new lease agreements increased by 4.5%.

Compared to the 4th quarter of 2022, the median house rental value increased in all NUTS 3 sub-regions, except for Região Autónoma dos Açores, where it decreased by 3.2%. The highest values were recorded in Grande Lisboa (12.54 €/m2), Península de Setúbal (9.65 €/m2), Região Autónoma da Madeira (9.30 €/m2), Algarve (9.09 € /m2) and Área Metropolitana do Porto (8.64 €/m2).

In the 4th quarter of 2023, there was a year-on-year increase in the median house rental value in the 24 municipalities with more than 100 thousand inhabitants, with Funchal (23.1%), Setúbal (21 .1%) and Vila Franca de Xira (20.3%) standing out with increases of more than 20%. Lisboa had the highest median rental value (15.51 €/m2), although the year-on-year growth rate was lower than the national one (9.8%). The number of new lease agreements decreased, compared to the same quarter last year, in six of the 24 municipalities with more than 100 thousand inhabitants, most notably in Maia (-13.1%) and Funchal (-10.3%).

]]>
Thu, 28 Mar 2024 11:00:00 GMT
<![CDATA[CPI annual rate of change estimated at 2.3%]]> Based on the information available until the date of this press release, the Consumer Price Index (CPI) annual rate is estimated to have increased to 2.3% in March 2024 (2.1% in February). The core inflation index, which excludes energy and unprocessed food products components was 2.5% (2.1% in the previous month). The annual rate of change of the index for energy products increased to 4.8% (4.3% in February) and the estimated rate for unprocessed food decreased to -0.5% (0.8% in the previous month), partially due to the base effect related to the monthly increase of 1.5% recorded in March 2023.

The CPI monthly rate is estimated to be 2.0% (nil in February and 1.7% in March 2023), while the CPI 12-month average rate was estimated to be 2.9% (3.3% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.6% (2.3% in the previous month).

The March CPI final results will be released on April 10th, 2024.

]]>
Thu, 28 Mar 2024 11:00:00 GMT
<![CDATA[Overnight stays grow again]]> The tourist accommodation sector registered 1.8 million guests and 4.3 million overnight stays in February 2024, corresponding to variations of +7.0% and +6.4%, respectively (+1.9% and -0.3% in January 2024, in the same order). Overnight stays by residents grew by 3.1% to 1.4 million, while those by non-residents increased by 8.1%, bucking the slowdown trajectory of the last three months and totaling 2.9 million.

In external markets, the British was the main one in February (share of 17.0%), having registered a growth of 9.4%, followed by Germany (share of 11.4%), which grew by 8.5%. Among the top 10 external markets in February, the French, in the 4th position (weight of 7.5%), also stood out with the highest decrease (-13.3%).

All regions recorded an increase in overnight stays, with greater expression in Oeste e Vale do Tejo (+17.2%) and RA Açores (+14.0%). The smallest increases were registered in Alentejo (+1.5%) and Centro (+1.7%).

Occupancy in tourist accommodation establishments decreased in February, to 35.9% and 45.2%, respectively, in net bed and room occupancy rates (-0.6 p.p. and -0.7 p.p., in the same order).

These results were influenced by the calendar's moving structure, i.e., the fact that 2024 is a leap year and, as such, the month of February this year has 29 days, one more than in 2023.

]]>
Thu, 28 Mar 2024 11:00:00 GMT
<![CDATA[12.6% of self-employed workers in economical dependence and 12.3% in organizational dependence]]> Of the total of 698,9 thousand self-employed workers in 2023, 12.6% (87.9 thousand; 2.1 percentage points (pp) less than in 2022 and 2.7 pp less than in 2021) had a client which represented 75% or more of their income (after taxes), an indicator of economic dependence. Of that same total, 12.3% (85.9 thousand; up 0.3 pp from 2022 and up 0.7 pp from 2021) stated that their working hours are determined by their clients, an indicator of organisational dependence.

Combining these two types of dependence, 1.9% (13.5 thousand) of self-employed workers were identified as being, simultaneously, economically and organisationally dependent. This indicator has decreased from that observed in 2022 (down 0.5 pp) and in 2021 (down 0.7 pp).

]]>
Wed, 27 Mar 2024 11:00:00 GMT
<![CDATA[Consumer confidence indicator and economic climate indicator increase]]> The Consumer confidence indicator increased between December and March, reversing the downward movement observed in the previous four months and reaching the highest value since February 2022. The balance of Consumer opinions on the past evolution of prices decreased in the last two months, after increasing in January. The balance of perspectives regarding future price developments has also decreased in the last two months, significantly in March, after the significant increase observed in January.

The economic climate indicator decreased in March, contrary to the reduction observed in the previous month. Confidence indicators increased in Services and, slightly, in Trade, having moderately decreased in Manufacturing Industry and Construction and Public Works.

The entrepreneurs’ expectations regarding the future evolution of selling prices decreased significantly in March in all sectors.

]]>
Wed, 27 Mar 2024 09:30:00 GMT
<![CDATA[Bank appraisals on housing increased 10 euros to 1,560 euros per square meter]]> The median value of bank appraisals on housing reached €1,560 per square meter in February 2024, €10 more than in the previous month (an increase of 0.6%). On a year-on-year basis, the rate of change stood at 5.5% (4.4% in January 2024). It should be noticed that the number of bank appraisals decreased by 2.0% compared to the previous period to around 28.3 thousand, 39.4% more than reported in the same period of the previous year.

]]>
Tue, 26 Mar 2024 11:00:00 GMT
<![CDATA[Excessive Deficit Procedure ]]> According to EU regulations, Statistics Portugal presents the first notification for 2024 associated with the Excessive Deficit Procedure (EDP) to be sent to Eurostat before the end of the month. According to these provisional results, the General Government (GG) had a positive balance, in 2023, amounting to EUR 3 193.5 million, corresponding to 1.2% of GDP (-0.3 % in 2022). Gross debt of GG attained 99.1 % of GDP in 2023 (112.4 % of GDP in 2022).

]]>
Mon, 25 Mar 2024 11:00:00 GMT
<![CDATA[Main aggregates of General Government]]> The General Government (GG) sector presented a positive balance (net lending) of EUR 3 194 million in 2023, corresponding to 1.2% of GDP (-0.3% in 2022).

Vis-à-vis 2022, GG total revenue increased by 9.0% in 2023 (+ EUR 9.5 billion), mainly as a consequence of the growth of current revenue (an 8,1% growth, EUR 8.5 billion more than in 2022). 

In the same period, GG total expenditure increased by 5.2% (in EUR 5.6 billion), with current expenditure increasing 4.6%, by EUR 4.5 billion, as a result of rises in compensation of employees (with a change rate of 7.6%) and in interest payments, which grew 23.3%. Capital expenditure increased 11.1%, by EUR 1 billion.

]]>
Mon, 25 Mar 2024 11:00:00 GMT
<![CDATA[External balance of the Portuguese economy stood at 2.6% of GDP]]> The Portuguese economy recorded a net lending of 2.6% Gross Domestic Product (GDP) in the third and fourth quarters of 2023, which represented an improvement compared to 2022, when it presented a negative balance (-0.4% of GDP). Gross National Income (GNI) and Gross Disposable Income (GDI) increased by 1.5% and 1.3%, respectively, compared to the previous quarter (growths of 9.0% and 8.9%, by the same order, compared to 2022). The economy's net lending in 2023 mainly reflected the increase in the balances of General Government (GG) and Financial Corporations, which shifted, respectively, from -0.3% and 1.6% of GDP in 2022, to +1.2% and 2.5% in 2023.

The disposable income of Households sector increased by 1.3% compared to the previous quarter and 6.7% compared to 2022. Compensation of employees mainly contributed to this result, with a growth of 2.5% compared to the previous quarter and 10.7% in annual terms. The savings rate stood at 6.3% in 2023 and 2022, as well as in the third quarter of 2023. In real terms, the adjusted GDI per capita of Households increased by 0.3% and 1.1%, compared to the quarter previous and to 2022, respectively.

The balance of Non-Financial Corporations stood at -2.0% of GDP, improving by 0.6 percentage points compared to the third quarter of 2023, driven by the 2.7% increase in compensation of employees paid which more than compensated the increase of Gross Value Added (GVA) by 1.9%. Compared to 2022, the balance improved by 0.3 percentage points of GDP. 

Net lending of Financial Corporations reached 2.5% of GDP in the fourth quarter of 2023, 0.2 percentage points less than in the previous quarter. In annual terms, net lending increased by 0.9 percentage points of GDP compared to 2022, mainly due to the 38.2% growth in GVA, reflecting the growth in the financial intermediation margin obtained by banking institutions when granting loans and obtaining deposits, due to the increase in interest rates, particularly on loans.

The balance of the General Government sector increased by 0.8 percentage points in the fourth quarter of 2023, standing at 1.2% of GDP (-0.3% in 2022). Considering quarterly values and not the year ending in the quarter, the balance of GG in the fourth quarter of 2023 reached -3 211.7 million euros, corresponding to -4.7% of GDP, which compares with -8.5% in the fourth quarter of 2022. Compared to the same period of the previous year, there was an increase of 8.1% in revenue and 0.4% in expenditure.

]]>
Mon, 25 Mar 2024 11:00:00 GMT
<![CDATA[House prices increased 8.2% and the number of transactions diminished by 18.7% in 2023]]> In 2023, the House Price Index (HPI) grew by 8.2%, 4.4 percentage points (pp) less than in the previous year. By category, existing dwellings increased by 8.7%, above the rate of change for new dwellings, 6.6%.

In the last quarter of 2023, the year-on-year rate of change of the HPI was 7.8 %, 0.2 pp more than in the previous quarter. During this period, existing dwellings prices increased at a faster pace than new dwellings, 8.1% and 6.9% respectively.

In 2023, 136,499 dwellings were sold for a total of 28 billion euros. These results represent reductions of 18.7% and 11.9% in number and value, respectively, compared to 2022. The reduction was particularly intense for the transactions of existing dwellings, which recorded rates of change of -21.4% in number and -16.5% in value.  New dwellings diminished by 6.1% in the number of transactions and increased by 2.6% in value.

In the 4th quarter of 2023, 34,126 dwellings were sold, corresponding to a year-on-year reduction of 11.4% (-18.9% in the previous quarter) and a quarter-on-quarter decrease of 0.4%. In this period, the value of dwellings sold totalled 7.2 billion euros, down by 2.6% on the same period in 2022.

In 2023, Households acquired 116,752 dwellings for a total of 23.5 billion euros, which represents a year on year reduction of 19.8% in number and 13.8% in value.

Purchases of dwellings by buyers with a tax residence outside the National Territory in 2023 fell by 3.1% in number and 1.4% in value, reaching 10,391 dwellings for a total of 3.6 billion euros.

This press release begins the publication of information on the number and value of dwelling transactions according to the new NUTS 2024 geography. The published data for this new series begin in the 1st quarter of 2009, whereas the previous series according to NUTS 2013 was discontinued.

]]>
Fri, 22 Mar 2024 11:00:00 GMT
<![CDATA[Industrial Production Prices Index year-on-year change rate was -2.3%]]> In February, the Industrial Production Price Index (IPPI) recorded a year-on-year decrease of 2.3%, 0.2 percentage points (p.p.) more negative than that registered in January. Excluding the Energy grouping, the rate of change was -2.2% (-2.4% in January). 

The monthly rate of change of the total index was 0.4% (0.6% in the same period of last year).

]]>
Fri, 22 Mar 2024 11:00:00 GMT
<![CDATA[44.2% of the adult population aged 25 to 64 in Portugal participated in education and training activities in the last 12 months, below the EU average of 46.6%]]> In 2022, the proportion of the resident population in Portugal aged 25 to 64 who participated in at least one formal education and/or non-formal education activity in the last 12 months was 44.2%. The national average is below the European average (46.6%), placing Portugal as the 18th country in the EU-27 with the highest participation of the adult population in formal and/or non-formal education and training activities.

In Portugal, and in contrast to the majority of EU-27 countries, in 2022 the participation of men (45.5%) in formal and/or non-formal education activities was higher than that of women (43.0%), placing it among the six countries where the participation rate of women was lower than that of men (Italy, Cyprus, Czechia, Slovakia and Hungary). In all the EU-27 countries, participation in formal and/or non-formal education activities increases with the level of education, and in the case of Portugal it is more than double among the population with tertiary education compared to the population who have completed at most lower secondary education (68.3% and 27.3%, respectively). In the various EU-27 countries, participation in formal and/or non-formal education activities was higher among the employed population. In Portugal, 50.6% of the employed population participated in formal and/or non-formal education activities, while only 29.2% of the unemployed population and 17.8% of the inactive population participated in this type of activities.

In all 27 EU countries, the majority of activities carried out in 2022 by the adult population aged 25 to 64 were non-formal education activities. In Portugal, 41.9% of the population aged 25 to 64 carried out non-formal education activities in the last 12 months (44.0% for the EU-27), and 38.5% of these activities were job-related (38.1% for the EU-27). Most of the job-related non-formal education activities were sponsored by the employer, with Portugal (34.1%) standing slightly above the EU-27 average (33.7%).

]]>
Fri, 22 Mar 2024 11:00:00 GMT
<![CDATA[Climate indicator diminished and Consumer Prices decelerated]]> The economic sentiment indicator (ESI) slightly decreased in February in the Euro Area (EA), registering, in the last month, a decrease in confidence indicators in all business sectors, while consumer confidence indicator increased. The prices of raw-materials and oil presented monthly rates of change of 0.3% and 5.2%, respectively (-13.1% and 3.2% in January).

In Portugal, the year-on-year rate of change in the Consumer Price Index (CPI) was 2.1% in February, 0.2 percentage points less than in the previous month. 

On the external side, the implicit prices of exports and imports of goods continued to record negative rates of change, -3.5% in exports and -6.5% in imports (-3.0% and -7.4%, respectively, in December 2023). Excluding petroleum products, there were decreases of 2.8% in exports and 4.7% in imports (-2.1% and -4.7%, respectively, in December).

The short-term indicators, available for January, reveal a nominal acceleration in services, less intense decreases in industry and a deceleration in construction. The economic climate indicator, which summarizes the balances of responses to questions relating to business surveys, decreased in February, after having increased between November and January. From the expenditure side, the economic activity indicator increased in year-on-year terms between September and January, less intensely in the last two months, after decreasing in August. The investment indicator increased, in year-on-year terms, in January, resuming the profile of positive rates of change that had been interrupted in December, and the private consumption indicator decelerated.

According to the provisional monthly Labour Force Survey, the unemployment rate (16 to 74 years old), seasonally adjusted, remained at 6.5% in January (6.6% in October and 7.0% in January 2023). The labour underutilization rate (16 to 74 years old) stood at 11.6%, the same value as the previous month (11.8% in October and 12.1% in January 2023). The employed population (16 to 74 years old), seasonally adjusted, increased by 2.0% in year-on-year terms and 0.7% compared with the previous month (year-on-year rate of change of 1.8% in December).

]]>
Tue, 19 Mar 2024 11:00:00 GMT
<![CDATA[Interest rate decreased for the first time since march 2022, to 4.641%]]> The implicit interest rate for all housing loan agreements decreased for the first time since March 2022, from 4.657% in January to 4.641% in February. For the contracts that were closed in the previous three months, the interest rate decreased for the fourth month in a row, from 4.315% to 4.197%. The average value of owed capital increased 368 Euros, reaching 65,158 Euros. The average value of loan repayments decreased for the first time since February 2021, to 403 euros, an increase of 84 euros compared to the value observed in February 2023 (25.2% more). In the last month, interest represented 62% of the average repayments, which compares with only 41% one year before. In the contracts celebrated in the last 3 months, the average value of loan repayments decreased 11 euros to 628 euros (10.4% higher than the same month of the previous year).

]]>
Mon, 18 Mar 2024 11:00:00 GMT
<![CDATA[Mortality decreases 15,8% compared to the same month of 2023]]> In February 2024, the number of deaths was 9,139, lower than the number registered in January 2024 (4,315 less deaths; -32.1%) and in February 2023 (1,710 less deaths; -15.8%).

In January 2024, 7,044 children were born alive, decreasing 1.6% compared to December 2023 (7,156) and 2.2% compared to January 2023 (7,204).

In that month, the natural balance was -6,398, worsening in relation to the same month of 2023, when it reached -4,721.

In January 2024, 1,533 marriages were celebrated, decreasing 24.9%, compared to number of marriages held in December 2023 (508 less marriages) and 7.7% regarding January 2023 (127 less).

]]>
Fri, 15 Mar 2024 11:00:00 GMT
<![CDATA[Severe housing deprivation increased ]]> The Survey on Income and Living Conditions (ICOR) currently consists of a set of data that are collected annually and a system that combines modules that collect pre-defined complementary information on a regular basis and ad hoc modules on new information needs. The results presented in this press release include data from the annual component, as well as from the 2023 information on "Housing difficulties" and the ad hoc module on "Energy efficiency of buildings and housing". 

The results obtained confirm the deterioration of housing conditions, with the proportion of persons living in dwellings in which the number of habitable rooms was insufficient for the number and demographic profile of household members increasing to 12.9%, 3.5 p.p. more than in the previous year (9.4%), and the proportion of residents in severe housing deprivation rate increasing to 6.0%, 2.1 p.p. more than in 2020 (3.9%).

On the other hand, there was a slight improvement in the ratio between housing expenditure and household disposable income, with a median housing expenditure burden of 9.7% in 2023, lower than the result of 10.2% recorded in the previous year (0.5 p.p. less), and a housing expenditure overburden rate of 4.9%, slightly below the value in the previous year (5.0%).

Regarding the thermal comfort of housing, the data collected indicate that 20.8% of the population lived in households in 2023 where there was no financial capacity to keep the dwelling comfortably warm, 3.3 p.p. more than in 2022. Portugal was in 2022 one of the 5 EU-27 countries in which this disability was highest, at 17.5%, almost double the European average of 9.3%.

The situation in terms of thermal comfort is even more serious if we take into account that, to the proportion of those who were in a precarious thermal situation for financial reasons, it is necessary to add the 21.6% who report living in a situation where the accommodation is not warm enough in winter for other reasons, and that 38.3% live in dwellings that are not adequately cool in the summer.

When asked about previous situations in which they had to stay temporarily overnight in another accommodation (private or collective), on the street or in a public space, because they had nowhere to stay, 4.0% of the persons aged 16 and over reported having experienced at least one situation of housing difficulty, of which 3.2% temporarily at the home of friends or relatives. The main reasons mentioned by respondents were "relationship or family problems" (39.6%) and "financial problems" (19.1%).

]]>
Fri, 15 Mar 2024 11:00:00 GMT
<![CDATA[Dwelling permits and completed dwellings increased, despite the decline in building permits ]]> In the 4th quarter of 2023, 5.3 thousand buildings were granted permits, representing a decrease of 3.8% compared to the 4th quarter of 2022 (-8.8% in the 3rd quarter of 2023) and a reduction of 12.3% compared to the 4th quarter of 2019. Buildings permits for new construction decreased by 5.2% (-9.3% in the 3rd quarter of 2023; -8.1% compared to the 4th quarter of 2019). The number of renovation permits increased by 1.3% (-7,5% in the 3rd quarter of 2023; -21,3% compared to the 4th quarter of 2019).

Completed buildings increased by 2.1% compared to the 4th quarter of 2022 (-1.2% in the 3rd quarter of 2023) but having grown by 9.1% compared to the 4th quarter of 2019, totalling 4.0 thousand buildings. 

In the residential sector, dwelling permits for new constructions grew by 1.8% in the 4th  quarter of 2023 (+9.5% in the 3rd quarter), while the number of completed buildings increased by 1.4% (+9.9% in the 3rd quarter of 2022).

Compared to the previous quarter, the number of building permits remained unchanged (-8.5% in the 3rd quarter of 2023), while the number of completed buildings increased by 3.0% (+1.8% in the 3rd quarter of 2023).

]]>
Thu, 14 Mar 2024 11:00:00 GMT
<![CDATA[Revenue from the tourist accommodation sector kept a slowdown path in the first month of 2024]]> In January 2024, the tourist accommodation sector accounted for 1.5 million guests (+1.8%) and 3.5 million overnight stays (-0.1%), amounting to EUR 230.8 million in total revenue (+9.4%) and EUR 166.0 million in revenue from accommodation (+8.5%).

The revenue per available room (RevPAR) stood at EUR 30.2 (+3.9%; following +9.0% in December) and average daily rate (ADR) amounted to EUR 83.7 (+7.6%; following +6.2% in December). The ADR reached its highest value in Grande Lisboa (EUR 105.9) and in RA Madeira (EUR 87.5). 

In January, the municipality of Lisboa accounted for 24.5% of all overnight stays (12.5% of all overnight stays by residents and 30.4% by non-residents). Among the municipalities with higher representation in total overnight stays in January, Porto and Loulé stood out, both with increases of 4.6% and, conversely, there were decreases in overnight stays in Lisboa and Funchal, -3.4% and -4.4%, respectively.

Considering all means of accommodation (tourist accommodation establishments, camping and holiday camps, and youth hostels), there were 1.6 million guests and 3.7 million overnight stays in January, corresponding to rates of change of +1.1% and -0.7%, respectively. The number of overnight stays spent by residents decreased by 2.5% and those spent by non-residents grew by 0.3%.

]]>
Thu, 14 Mar 2024 11:00:00 GMT
<![CDATA[Production in Construction grew 4.8%]]> The Index of Production in Construction increased 4.8% in January in year-on-year terms (3 months moving average, working days and seasonally adjusted), down by 0.6 percentage points from December.

The employment and wages indeces grew 3.5% and 11.3% in January (change rate of 3.4% and 10.1% in the previous month).

]]>
Wed, 13 Mar 2024 11:00:00 GMT
<![CDATA[The movement of passengers at national airports continued to reach monthly highs]]> In January 2024, 4.0 million passengers and 18.3 thousand tonnes of freight and mail were handled at national airports, corresponding to year-on-year variations of +1.6% and +9.6%, respectively, compared with January 2023.

At the beginning of 2024 there were still historic monthly highs of passengers at national airports. In January 2024, there was a daily average of 61.4 thousand passengers disembarked, a higher value than the one registered in January 2023 (60.7 thousand; +1.2%).

France was the main country of origin and destination of flights, despite a decrease in the number of disembarked and embarked passengers compared to January 2023 (-9.0%; -7.7%). Spain and the United Kingdom ranked 2nd and 3rd as the main countries of origin, and inversely as the main countries of destination.

]]>
Wed, 13 Mar 2024 11:00:00 GMT