SYNTHESIS INE@COVID-19, 23 JUL 2021

July . 23 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 3/7 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt Economic activity on a recovery path towards pre-pandemic levels • Transactions made using the Multibanco network (overall value of national withdrawals, as well as payments for services and purchases at ATM terminals) grew by 17.4% year-on-year (+34.6% in the previous month). In the last two months, the number of these operations has already shown a level like the one observed before the pandemic. The quantitative information available 2 for May and June 3 reveal high year-on-year growth rates, but less so in the latter month. In May, except for retail trade and construction, most short-term indicators have not yet reached the levels of the corresponding period of 2019. Concerning tourism activity in May, it was still significantly below that observed in the same period of 2019. The level of exports of goods in nominal terms was also lower than that recorded in the same period of 2019. The quantitative summary indicators (economic activity, private consumption, and investment) showed significant growth in May 2021, albeit less intense than in April, partly reflecting the fact that May compares with a corresponding month in 2020 when the restrictions imposed on economic activity, because of the pandemic, had already been eased. In June, the economic climate indicator increased slightly, surpassing in the last two months the level observed at the start of the pandemic (March 2020). In June 2021, • The consumer confidence indicator continued to rise moderately, registering the highest value since the last non-pandemic affected survey conducted in February 2020; • Sales of passenger cars recorded a year-on-year growth of 71.3% (+190.9% in the previous month) and a reduction of 25.2% compared to June 2019; Operations carried out on ATM (value) Sales of passanger cars 2 The analysis is based on the actual value series (gross or seasonally adjusted). 3 Based on information available up to 16 July 2021. 71.3 -200.0 -100.0 0.0 100.0 200.0 300.0 400.0 500.0 Jun-05 Jun-07 Jun-09 Jun-11 Jun-13 Jun-15 Jun-17 Jun-19 Jun-21 y-o-y rate/% 17.4 -60.0 -40.0 -20.0 0.0 20.0 40.0 60.0 Jun-05 Jun-07 Jun-09 Jun-11 Jun-13 Jun-15 Jun-17 Jun-19 Jun-21 y-o-y rate/%