2022 Edition 36 Operations carried out on ATM (value) The overall number of national withdrawals, payments for services, and purchases at ATP terminals showed: • In December, a year-on-year growth of 14.4% (21.0% in the previous month); • In 2021, a rate of change of 10.9% in the overall value of operations carried out (-10.9% in 2020), almost returning to the level of 2019. The consumer confidence indicator stabilised in December, after having decreased in October and November, significantly in the latter case. Investment The Gross Fixed Capital Formation (GFCF) indicator recorded a positive year-on-year rate of change in November, after three months of negative variations. The outcome in last month was the result of: • Positive contributions from the machinery and equipment and transport equipment components, which had been negative in the previous month; • The negative contribution of the construction component, following the positive contribution observed in the previous month. External environment of the Portuguese economy In December: • The Euro Area economic sentiment indicator continued to decline, although it remained at a high level; • The evolution of the economic sentiment indicator mainly reflected the sharp decline in confidence in services and, to a lesser extent, in retail trade, with the consumer confidence indicator also declining for the third consecutive month; • Confidence indicators in industry and construction increased slightly. Passenger car sales Private consumption The net lending capacity of Households (including Non-Profit Institutions Serving Households) stood at 4.9% of GDP in the year ended in the 3rd quarter of 2021 (-0.5 percentage points (p.p.) than in the previous quarter), mainly because of the 2.8% decrease in gross savings. The household saving rate decreased 0.4 p.p. to 11.3% of disposable income. This result was a consequence of the fact that the 1.2% increase in private consumption (4.5% rate of change in the previous quarter) was higher than the growth in disposable income (0.8%). The quantitative indicator of private consumption accelerated in October and November, after successively less intense growth between May and September. Sales of passenger cars registered: • In December, a year-on-year decrease of 11.9% (-7.8% in November); • In 2021, a year-on-year rate of change of 0.8% (-35.1% in 2020). Dec-05 Dec-07 Dec-09 Dec-11 Dec-13 Dec-15 Dec-17 Dec-19 Dec-21 - 11.9 -200.0 -100.0 0.0 100.0 200.0 300.0 400.0 500.0 vh/% 14.4 -60.0 -40.0 -20.0 0.0 20.0 40.0 60.0 vh/% Dec-05 Dec-07 Dec-09 Dec-11 Dec-13 Dec-15 Dec-17 Dec-19 Dec-21 More information is available at: Monthly economic survey – December 2021 (19 January 2022)
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