Economic activity improved from -0.4% in December to -0.1% in January, remaining in negative territory, according to indicators released today by the Bank of Portugal (BoP).
According to the central bank, the coincident monthly indicator of economic activity in January improved 0.3 percentage points compared to December, remaining in negative territory for the fifth consecutive month.
This indicator shows negative values since September (-0.3%), reaching 0.6% in November and has since been recovering slightly.
In what concerns the quarter ended in January, the indicator of economic activity stood at -0.4%, compared with -0.5% in the quarter ended in December.
On the other hand, the coincident monthly indicator of private consumption slowed from 1.6% in December to 1.3% in January, maintaining the downward trend that has been evident since June, when it reached the 2 4%.
Private consumption in January this year is at a similar level to January 2014, when the coincident indicator stood at 1.5%.
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