Summary
In May, the consumer confidence and the economic sentiment indicators slightly increased in the Euro Area. In the same month, the raw materials and oil prices presented monthly change rates of 1.1% and 4.1%, respectively (-0.2% and 7.1% in April).
In Portugal, the economic activity indicator decreased in April, while the economic climate indicator, already available for May, recovered. In April, the Short-Term Statistics revealed an increase in the activity in industry and some sectors of services and a decrease in construction. The private consumption indicator presented a more intense year-on-year growth rate in April, reflecting the acceleration of the durable consumption component. In the same month, the Gross Fixed Capital Formation (GFCF) indicator diminished, due to the reduction of the transport material and machinery and equipments positive contribution. Concerning the international trade of goods, exports and imports recorded year-on-year nominal change rates of 8.2% and 7.4% in April, respectively (3.8% and -1.4% in March). It should be noted, however, that these results might be partially influenced by the working days effect, as in quarter ended in April there were more two working days compared to the same quarter of the previous year.
Accordingly, to the monthly estimates of Labour Force Survey, the seasonally adjusted unemployment rate (15 to 74 years old) shifted from 13.2% in March to 13.0% in April. The employed population (15 to 74 years old), seasonally adjusted, increased by 0.5% comparing with previous month and by 1.5% comparing with April 2014.
The year-on-year change rate of the Consumer Price Index (CPI) was 1.0% in May (0.4% in April), with a change rate of 0.6% in the goods component (0.0% in the previous month) and 1.4% in the services component (1.0% in April).