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Statistical Press Release – Non-financial sector indebtedness - October 2019

Today, Banco de Portugal publishes statistics, in Table A.20 and A.21 of the Statistical Bulletin and in BPstat, on non-financial sector indebtedness (end-of-period positions and annual rates of change, respectively) for October 2019.

End-of-period positions

In October 2019 non-financial sector indebtedness stood at €724.6 billion, of which €319.5 billion referred to the public sector and €405.2 billion to the private sector. 

Compared to September 2019, non-financial sector indebtedness went down by €1.2 billion. This was due to a €0.7 billion decrease in private sector indebtedness and a €0.5 billion decrease in public sector indebtedness (Chart 1).

The fall in private sector indebtedness was mainly driven by a decline in corporations’ financing from the financial sector and external financing amounting to €0.9 billion. This reduction was partly offset by a €0.1 billion increase in households’ financing from the financial sector.

The decline in public sector indebtedness resulted mainly in a decrease in financing from the financial sector (€1.0 billion), which was partly offset by an increase in external financing and in financing from general government and corporations (Chart 2).

Annual rates of change (1)

In October the annual rate of change (a.r.) of private corporations’ total indebtedness was 1.1%, a decrease of 0.5 percentage points from the previous month. The a.r. of total households’ indebtedness increased by 0.1 percentage points, standing at 0.6%.

Next update: 22 Jan. 2020


(1) Annual rates of change in indebtedness reflect developments in total debt (including loans, debt securities and trade credits) of the non-financial private sector to the other institutional sectors (information on a consolidated basis). Annual rates of change are calculated on the basis of an index built from derived transactions, i.e. changes in end-of-period positions excluding reclassifications, revaluations, exchange rate variations and other changes that do not arise from financial transactions.