Summary
In June, the consumer confidence indicator for the Euro Area (EA) recovered, while the economic sentiment indicator slightly decreased.
In Portugal, the economic activity indicator stabilized in May, although the information from Short-Term Statistics revealed a more negative behaviour in some activity sectors, notably in the cases of industry and services. The economic climate indicator, already available for June, increased, attaining the highest value since September 2008. The private consumption indicator presented a slightly less intense year-on-year growth rate in May, reflecting the decrease of the positive contribution of the non-durable consumption component. In the same month, the Gross Fixed Capital Formation (GFCF) indicator recorded a less intense reduction, due to the lower negative contribution of the construction component. Concerning the international trade of goods, exports and imports recorded year-on-year nominal change rates of -3.3% and -0.8% in May (-0.9% and 0.1% in the previous month), respectively.
The year-on-year change rate of the Consumer Price Index (CPI) was -0.4% in May and June (-0.1% in April). In the last month, the goods component registered a -1.1% change rate (-1.2% in May) and the services component 0.5% (less 0.2 percentage points than in the previous month). The Harmonized Consumer Price Index (HCPI) was 0.7 percentage points lower than the estimate for the EA HCPI in June (0.8 percentage points lower in April and May).