Portugal’s economic activity indicator, for December 2016, and the economic climate indicator, for January of this year, improved on month according to figures from the National Statistics Institute, PortugalNews reported. According to INE, the economic activity indicator rose in December to 1.0 points, after remaining stable at 0.9 points in October and November. The economic climate indicator (calculated through surveys of companies in various sectors) also improved in January to 1.2 points, after a drop the previous month (from 1.2 points to 1.1 points). The quantitative private consumption indicator (calculated through surveys of individuals), also improved in December, due to improvements in both durable consumption and current consumption. In the same month, the Gross Fixed Capital Formation (GFCF–indicative of investment levels) rose, with notable improvements in construction, which went form a negative to a positive contribution. INE’s confidence indicators are calculated based on three-month moving averages of extreme responses to the surveys.
