SYNTHESIS INE@COVID-19, 5 Feb-2021

February . 05 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 2/20 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt More information available at: Investment survey – 2 nd quarter 2020 (25 January 2021) Evolution of business GFCF in value Year-on-year rate of change The decrease in business investment in 2020 was due to the negative contribution of eight of the thirteen economic activity sections surveyed, with a particular emphasis on Manufacturing : -5.3 p.p., as a result of the rate of change of -18.7%. In the remaining sections, which had a slightly positive contribution, the contribution of 0.5 p.p. to Construction is noted, reflecting an increase of 9.6%. For 2021, the results indicate that eight of the thirteen sections show growth in business investment, the most significant being in Transportation and Storage : a contribution of +3.4 p.p. and a rate of change of +63.1%. Manufacturing has the most significant negative contribution: -1.9 p.p., with a decrease of 6.9%. The expected recovery of Gross Fixed Capital Formation between 2020 (-16.3%) and 2021 (+3.5%) is determined by an increase in contributions from eleven sections, with the emphasis on: • Administrative and Support Services Activities : -4.1 p.p. in 2020, +2.6 p.p. in 2021; • Transportation and Storage : -0.5 p.p. in 2020, +3.4 p.p. in 2021; • Manufacturing : -1.9 p.p. in 2020, -5.3 p.p. in 2021. The decrease in investment in 2020 was seen in all groups of persons employed, particularly in the 1 st group (contribution of -6.9 p.p. and a rate of change of -28.2%), followed by the 2 nd group (contribution of -4.5 p.p. and rate of change of -21.4%). For 2021, overall growth of 3.5% in investment is expected, focusing on firms in the 4 th group (+10.5% in investment) and the 3 rd group (+19.0%). The prospects for firms in the remaining groups (small and medium-sized enterprises) points to a continued significant reduction in investment in 2021, although less intense than in 2020. 4.30 -16.30 3.5 -30 -25 -20 -15 -10 -5 0 5 10 15 20 25 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 Final es�mate Provisional es�mate First es�mate %