In February, the consumer confidence and the economic sentiment indicators declined in the Euro Area (EA). In the same month, the raw materials and oil prices presented monthly change rates of 1.3% and 2.6%, respectively (-2.2% and -19.1% in January).
In Portugal, the economic activity indicator decelerated in December and January. The economic climate indicator, which diminished between September and January, increased slightly in February. The quantitative indicator of private consumption presented a less intense year-on-year growth in January, reflecting the slowdown of the non-durable component. The Gross Fixed Capital Formation (GFCF) indicator registered a pronounced deceleration, due mainly to the behaviour of the construction component. Concerning the international trade of goods, exports and imports recorded year-on-year nominal change rates of 0.7% and 0.3% in January, respectively (0.2% and -0.5% in December). Considering the economic activity from the production perspective, the industry and services turnover indices registered negative change rates in nominal terms in January, less pronounced than in the previous month, which may reflect reduction of prices. In the case of industry, the respective price index maintained a negative change rate and the industrial production index, although decelerating, maintained a positive growth in January. In December and January, the construction and public works production index presented a more intense reduction.
According to the provisional monthly estimates of Labour Force Survey, the seasonally adjusted unemployment rate (15 to 74 years old) was stable between November and January at 12.2% (13.7% in January 2015). The employed population estimate (15 to 74 years old), seasonally adjusted, increased 1.4% in year-on-year terms in December and January, and presented a change rate of -0.1% in the last month comparing with previous month.
The year-on-year change rate of the Consumer Price Index (CPI) was 0.4% in February, 0.4 p.p. lower than in the previous month, with change rates of -0.5% and 1.6% for the goods and the services components, respectively.