Flash Notes

5 de Setembro de 2023
Portugal Macroeconomic and financial outlook | July 2023

Indicators have moderated, but activity keeps resilient

  • We see GDP growing around 2,5% in 2023, decelerating to less than 2% in 2024, as higher interest rates will curb investment and consumption decisions. However, the resilience of the labour market, gradual deceleration of inflation and European funds will compensate the impact of more restrictive financing conditions.