FEBRUARY 2022 39 Operations carried out on ATM (value) In January, the overall number of national withdrawals, payments for services, and purchases at ATM terminals showed year-on-year growth of 23.1% (14.4% in the previous month). It should be noted that this high growth reflects a base effect, as the comparison is made with a month (January 2021) characterised by a new period of general confinement, in which additional restrictive measures were imposed. The Consumer Confidence indicator increased in January, after having stabilised in December. Investment The Gross Fixed Capital Formation (GFCF) indicator recorded positive year-on-year rates of change in November and December, more intensely in the latter month, after three months of declining rates of change. The outcome in the last month resulted from: • Positive contributions of the Construction and Machinery and equipment components, more significant in the first case; • A slight decrease in the positive contribution of the Transport equipment component. External environment of the Portuguese economy In the Euro Area, concerning GDP: • In the 4th quarter of 2021, it increased by 4.6% in volume year-on-year (3.9% in the 3rd quarter) and 0.3% quarter-on-quarter (2.3% in the 3rd quarter); • In 2021, it increased by 5.2%, following the sharp 6.4% reduction in 2020, standing at 1.5% below the 2019 figure. Also in the Euro Area, in January 2022: • The economic sentiment indicator decreased for the third consecutivemonth, mainly reflecting the reduction of confidence indicators in Construction and in Services and, to a lesser extent, in Industry; • The consumer confidence indicator declined slightly, after stronger declines in the previous three months; • Conversely, confidence recovered concerning the Retail trade. Passenger car sales Private Consumption The quantitative indicator of private consumption decelerated in December, after having accelerated in October and November. In January, the sales of passenger cars were down by 1.9% year-on-year, following the 11.9% decrease registered in December. - 1.9 -200.0 -100.0 0.0 100.0 200.0 300.0 400.0 500.0 Jan-06 Jan-08 Jan-10 Jan-12 Jan-14 Jan-16 Jan-18 Jan-20 Jan-22 y-o-y rate/% 23.1 -60.0 -40.0 -20.0 0.0 20.0 40.0 60.0 Jan-06 Jan-08 Jan-10 Jan-12 Jan-14 Jan-16 Jan-18 Jan-20 Jan-22 y-o-y rate/% More information is available at: Monthly economic survey – January 2022 17 February 2022
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