Flash Notes

23 de Julho de 2026
Monthly Report | Economic and Financial Market Outlook | July 2026

Portugal: between internal resilience and external challenges


The data for the second quarter of the year are expected to show that the Portuguese economy performed better than anticipated at the beginning of spring. Concerns arising from the escalation of the conflict in the Middle East regarding global growth, energy prices, and international trade have eased following a swift political agreement between the parties. Nevertheless, the fragility of this agreement warrants caution when assessing the economic outlook for the coming quarters.