Economics in a picture
Economic activity in Portugal with an upward trend since June
The speed and uniqueness of the crisis triggered by the SARS-CoV-2 outbreak in the global economy has made the use of high-frequency data very important, including for policy-making. Among the advantages of this type of information is its disclosure with a short lag vis-à-vis the reference period, thus enabling the timely identification of changes in economic activity.
According to the daily economic indicator (DEI) developed for Portugal, after very sharp falls in year-on-year terms between April and May, economic activity shows a globally upward trend since the beginning of June.
For more details, see Box 1 “A evolução da atividade económica em Portugal durante a pandemia numa frequência diária”, published in Banco de Portugal Economic Bulletin, October 2020 (in Portuguese only) and Lourenço and Rua (2020), “The DEI: tracking economic activity daily during the lockdown”, Banco de Portugal Working Paper 13.
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