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[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).

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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).

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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%).

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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).

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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%.

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Thu, 14 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.

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Wed, 13 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).

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Wed, 13 Mar 2024 11:00:00 GMT
<![CDATA[CPI annual rate of change decreased to 2.1%]]> The Consumer Price Index (CPI) annual rate was 2.1% in February 2024 (2.3% in January). The annual core inflation rate, which excludes energy and unprocessed food products was 2.1% (2.4% in the previous month). The annual rate of change for energy products increased to 4.3% (0.2% in January) and the index for unprocessed food was 0.8% (3.1% in the previous month), partially due to the base effect related to the monthly increase of 1.4% recorded in February 2023.

The CPI monthly rate was nil (the same value as in the previous month and 0.3% in February 2023), while the CPI 12-month average rate was 3.3% (3.8% in January). 

In February 2024, the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate was 2.3% (2.5% in the previous month). This rate is 0.3 p.p. below the rate estimated by Eurostat for the Euro area (the same difference as in January). Excluding energy and unprocessed food products, the Portuguese HICP was 2.4% in February (2.7% in January), below the corresponding rate for the Euro area (estimated at 3.3%).

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Tue, 12 Mar 2024 11:00:00 GMT
<![CDATA[Exports increased by 0,4% and imports decreased by 4.5% in nominal terms]]> In January 2024, exports and imports of goods recorded nominal year-on-year rates of change of +0.4% and -4.5%, respectively (0.0% and -5.5%, in the same order, in December 2023).

In the first month of 2024, the increase in exports of Transport equipment (+13.9%) and the decrease in imports of Fuels and lubricants (-29.8%) are noteworthy, in the latter case due to decreases in both volume (-19.0%) and price (-13.4%).

Excluding Fuels and lubricants, in January 2024, there was an increase of 1.0% in exports and a decrease of 0.6% in imports (+0.4% and -4.0%, respectively, in December 2023).

In January 2024, the unit value indices (prices) 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; +7.8% and +6.9% in January 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 2023; +7.8% and +5.9% in January 2023).

The deficit of the trade balance decreased by EUR 399 million, year-on-year, in January 2024, amounting to EUR 1,662 million. Excluding Fuels and lubricants, the deficit amounted to EUR 1,328 million, reflecting a EUR 100 million reduction.

In the quarter that ended in January 2024, exports and imports decreased by 0.7% and 6.1%, respectively, when compared to the same period in 2023 (-2.1% and -5.3%, in the same order, in the last quarter of 2023).

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Mon, 11 Mar 2024 11:00:00 GMT
<![CDATA[ Services Turnover Index grew 2.0%]]> Services turnover index, in nominal terms and adjusted for calendar and seasonal effects, presented a year-on-year change rate of 2.0%, up by 2.4 percentage points (p.p.) from the rate observed in December 2023.

The month-on-month change rate of the total index was 0.7% in January (0.1% in previous period).

The indices of employment, wages and salaries and number of hours worked adjusted of calendar effects presented year-on-year change rates of 2.1 %, 5.5% and 0.0%, respectively (compared to 2.5%, 5.9% and -1.3% in December).

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Mon, 11 Mar 2024 11:00:00 GMT
<![CDATA[Passenger transport increased in the 4th quarter. Overall results for 2023 exceed 2019 levels, with the exception of the metro]]> In the 4th quarter of 2023, national airports handled 15.3 million passengers, corresponding to a growth of 10.1% compared with the same period in 2022 (+13.1% in the 3rdQ 2023; +14.2% compared with the 4thQ 2019).

In the same quarter, 53.7 million passengers travelled by train (+16.9%; +19.1% in the 3rdQ 2023) and 69.6 million by metro (+12.2%; +16.2% in the 3rdQ 2023). Compared with the 4thQ 2019, there were variations of +9.5% and -7.0%, respectively.

In the 4th quarter of 2023, passenger transport by inland waterways increased by 17.9% compared with the 4thQ 2022 (+19.9% in the 3rdQ 2023), reaching 5.4 million passengers and increasing 0.4% compared with the 4thQ 2019.

Regarding the transport of goods, there were decreases by rail (-2.3%), by sea (-2.7%) and road (-7.5%) and an increase by air (+8.0%). Compared with the 4thQ 2019, the transport of goods by air increased (+4.0%), and the transport by sea, rail and road decreased (-9.4%, -1.6% and -18.4%, in the same order).

Preliminary results for 2023 revealed growth in passenger transport by air (+18.9%; +121.7% in 2022), by train (+16.7%; +42.1% in 2022), by metro (+20.5%; +58.6% in 2022) and by inland waterways (+21.5%; +44.6% in 2022). Compared with 2019, there were variations of +12.3%, +14.2%, -2.7% and +2.6%, in the same order.

Regarding the transport of goods, results indicate a stabilization of air transport (+0.1%, after +16.9% in 2022) and a reduction of transport by sea (-4.8%, +2.3% in the previous year). Compared with 2019, there were variations of +5.9% and -5.1%, in the same order. By land, rail transport increased by 0.5% (-3.5% in 2022) and road transport decreased by 9.7% (-2.3% in 2022), in both cases there is still no recovery compared with 2019 (-3.5% and -16.1%, respectively).

In 2023, pipeline transport increased by 8.0% compared with the previous year (+28.3% in 2022; +1.8% compared with 2019). In the transport of gas by pipeline, there were decreases in input (-15.8%; -4.3% in 2022; -22.2% compared with 2019) and output (-15.6%; -7.5% in 2022; -24.2% compared with 2019).

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Fri, 08 Mar 2024 11:00:00 GMT
<![CDATA[The level of education is higher, and the risk of poverty lower, for those who, at the age of 14, lived with parents who had completed tertiary education]]> The Survey on Income and Living Conditions (SILC) 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 information for 2023 on "Intergenerational transmission of advantages and disadvantages", relating to the population aged 25 to 59 years, which allows the analysis of the relationship between parental sociodemographic characteristics and conditions of poverty in the present. The information collected is based on the respondents' parental background when they were about 14 years old.

The population aged 25 to 59 accounted for 45.8% of the total population at the beginning of 2023 (4.8 million people). Of these, 14.9% were at risk of poverty in 2022, which is lower than for the general population (17.0%).

The risks of poverty in 2022 were 17.3% and 17.2%, respectively, for those in whom the father or mother had not completed more than the current basic education, slightly above the national average (17.0%), but substantially lower for those in which, at the age of 14, one of the parents had completed upper secondary education,  post-secondary non-university or higher education (6.8% when it was the father; 8.6% when it was the mother).

For those who lived, at the age of 14, in a household whose father was Portuguese, the risk of poverty in 2022 was 13.7%, compared to 25.1% in situations where the father was a foreigner. There is a similar pattern in relation to the results for the mother's citizenship: 13.8% when Portuguese and 25.5% when foreign.

73.6% of the surveyed population assessed the financial situation of the household in which they lived at the age of 14 as moderately good, good or very good. Despite this, 12.2% were in poverty in 2022, although much lower than the incidence of poverty (21.2%) observed when the financial situation at the age of 14 was assessed as moderately bad, bad or very bad.

More than 95% of respondents had their basic educational and food needs met by the age of 14, but only 46.8% had the possibility of having one week's holiday away from home per year.

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Fri, 08 Mar 2024 11:00:00 GMT
<![CDATA[Industry Turnover Index fell by 2.8%]]> The Industry Turnover Index decreased by 2.8% in nominal terms in January (-8.2% in the previous month). Excluding the Energy grouping, the industrial turnover change rate stood at -1.9% (-8.0% in December). The indices for the domestic and non-domestic market fell by 2.7% and 3.0% respectively (-3.4% and -15.5% in the previous month).

In year-on-year terms, employment and wages grew by 0.2% and 5.9%, respectively (0.2% and 5.3% in the previous month), while number of hours worked (adjusted for calendar effects) decreased 1.9% (-2.0% in December).

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Fri, 08 Mar 2024 11:00:00 GMT
<![CDATA[Housing construction costs rose by 1.9%]]> In January 2024, construction costs for new residential buildings are estimated to have increased by 1.9% on a year-on-year basis, 0.2 percentage points more than in the previous month. The price of materials presented a variation of -0.9% while labor costs rose 5.7%.

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Thu, 07 Mar 2024 11:00:00 GMT
<![CDATA[Trade turnover grew 0.6%]]> The trade turnover index presented a year-on-year rate of change of 0.6% in January 2024, up by 1.0 percentage points from December 2023.

The year-on-year change rates of indices of employment, wages and salaries and hours worked adjusted for calendar effects stood at 2.3%, 8.0% and 2.0% (2.1%, 8.4% and 0.6% in the previous month).

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Fri, 01 Mar 2024 11:00:00 GMT
<![CDATA[Industrial Production index change rate was -1.3%]]> Industrial Production year-on-year change rate was -1.3%, in January (-4.8% in December). The Manufacturing Industry year-on-year change rate was -1.0% (-3.6% in December). The monthly change rate of the total index was 1.4% (-1.1% in the previous month).

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Fri, 01 Mar 2024 11:00:00 GMT
<![CDATA[CPI annual rate of change estimated at 2.1%]]> Based on the information available until the date of this press release, the Consumer Price Index (CPI) annual rate is estimated to have decreased to 2.1% in February 2024 (2.3% in January). The core inflation index, which excludes energy and unprocessed food products components was 2.2% (2.4% in the previous month). The annual rate of change of the index for energy products increased to 4.3% (0.2% in January) and the estimated rate for unprocessed food decreased to 0.8% (3.1% in the previous month), partially due to the base effect related to the monthly increase of 1.4% recorded in February 2023.

The CPI monthly rate is estimated to be 0.1% (nil in January and 0.3% in February 2023), while the CPI 12-month average rate was estimated to be 3.3% (3.8% in the previous month). 

The estimate of the Portuguese Harmonised Index of Consumer Prices (HICP) annual rate of change was 2.3% (2.5% in the previous month).

The February CPI final results will be released on March 12th, 2024.

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Thu, 29 Feb 2024 11:00:00 GMT
<![CDATA[GDP in volume in the fourth quarter grew 2.2% in year-on-year terms and 0.8% when compared with the previous quarter. In 2023 GDP grew by 2.3%]]> Gross Domestic Product (GDP), in volume, registered a year-on-year rate of change of 2.2% in the fourth quarter of 2023, after increasing 1.9% in the previous quarter. The contribution of domestic demand to the year-on-year growth rate of GDP increased slightly, from 2.0 percentage points in the third quarter of 2023, to 2.1, with an acceleration in private consumption and a slowdown in investment. The contribution of net external demand to the year-on-year growth rate of GDP turned positive (0.1 percentage points), after being negative in the previous quarter (-0.2 percentage points), with exports of goods and services in volume growing more intensely than imports. For the fourth consecutive quarter, there was a gain in terms of trade in year on year terms, although less significant than in the previous two quarters, as a result of the more intense decrease in the import deflator compared to the export deflator.

Comparing with the third quarter of 2023, GDP increased by 0.8% in volume, after decreasing by 0.2% quarter on-quarter in the previous quarter). The contribution of domestic demand to the quarter-on-quarter variation in GDP in the fourth quarter (1.1 percentage points) was higher than that recorded in the previous quarter (0.7 percentage points), while the contribution of external demand remained negative (-0.3 percentage points), but less intense than in the third quarter (-0.9 percentage points).

In 2023, GDP grew by 2.3% in volume, after the 6.8% increase in 2022, the highest since 1987. Domestic demand presented a positive contribution to the annual growth rate of GDP, although lower than that observed in the previous year, with a slowdown in private consumption and investment. The contribution of net external demand was also positive in 2023, but less intense than in the previous year, with exports and imports of goods and services in volume slowing down significantly.

In nominal terms, GDP increased by 9.7% in 2023, reaching around 266 billion euros. 

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Thu, 29 Feb 2024 11:00:00 GMT
<![CDATA[Residents' overnight stays decreased]]> The tourist accommodation sector registered 1.5 million guests and 3.5 million overnight stays in January 2024, corresponding to variations of +1.8% and -0.1%, respectively (+10.9% and +8.3% in December 2023, in the same order). Overnight stays reversed the growth trajectory of the last three months and decreased by 2.6%, totaling 1.1 million, while those from non-residents slowed down for the third consecutive month, registering a growth of 1.2%, corresponding to 2.3 million.

In external markets, the British was the main outbound market in January (share of 15.8%), having registered a growth of 6.0%, followed by Germany (share of 11.2%), which grew by 0.3%. Among the top 10 external markets in January, the Spanish, in the 3rd position (weight of 8.8%), also stood out with the biggest decrease ( 12.2%).

The regions with the higher increase in overnight stays were the Oeste e Vale do Tejo (+18.7%), followed by the Norte (+3.7%) and the Centro (+3.3%). Conversely, the main decreases occurred in the Península de Setúbal (-9.7%), in the RA Açores (-4.0%) and in Grande Lisboa (-3.9%).

Occupancy in tourist accommodation establishments decreased in January, to 28.3% and 36.1%, in net bed and room occupancy rates, respectively (-1.3 p.p. in both).

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Thu, 29 Feb 2024 11:00:00 GMT
<![CDATA[Unemployment rate at 6.5% and labour underutilisation rate at 11.6% for the second consecutive month]]> December 2023 (definitive estimates):

The active population (5,298.1 thousand people) decreased from November (1.0 thousand people, which corresponded to a nearly null relative change) and increased from September 2023 (1.6 thousand people, nearly null relative change) and from December 2022 (1.6%).

The employed population (4,952.3 thousand) remained practically unchanged from the previous month, having increased from three months before (0.1%) and from the same month of 2022 (1.8%).

The unemployed population (345.8 thousand) decreased from the three periods under comparison: 0.5%, 0.7% and 1.7%, respectively.

The unemployment rate, which stood at 6.5%, decreased by 0.1 percentage points (pp) from the previous month and from three months before and by 0.2 pp from a year earlier.

The inactive population (2,396.4 thousand) increased by 0.1% both from November and from September 2023, having decreased by 1.9% from December 2022.

The labour underutilisation rate was estimated at 11.6%, down 0.1 pp from both the previous month and three months before and down 0.7 pp from a year earlier.

January 2024 (provisional estimates):

The active population (5,335.6 thousand) increased from the three periods under comparison: 0.7%, 0.6% and 1.4%, respectively.

The employed population (4,988.6 thousand) increased from the previous month (0.7%), from three months before (0.8%) and from the same month of 2023 (2.0%).

The unemployed population (347.0 thousand) increased by 0.4% from December 2023, having decreased from the other two comparing periods: 1.5% and 5.9%, respectively.

The unemployment rate remained at 6.5%, unchanged from the previous month, down 0.1 pp from three months before and down 0.5 pp from a year earlier.

The inactive population (2,452.8 thousand) increased from the month before (2.4%), from three months before (2.7%) and from a year earlier (1.0%).

The labour underutilisation rate stood at 11.6%, the same value as in December but down from October 2023 (0.2 pp) and from January 2023 (0.5 pp).

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Thu, 29 Feb 2024 11:00:00 GMT