The summary of the monthly National Statistics Institute (INE) released this Wednesday is hardly encouraging and does not subscribe to the optimism of the Government. The indicators of the INE say that the economy will be losing gas. The synthesis of conjuncture notes that “the indicator of economic activity declined in September and October, prolonging the downward trend the previous”.
The indicator of economic activity is a rough measure of the evolution of the GDP, signifying, by this, the evolution of the economy. The indicator dropped from 1.5% to 1.3% between August and September, returning to slow down to 0.9% in October. The investment continues to go wrong, but the internal consumption reveals strength.
Also, the economic climate indicator, which reflects the confidence of the entrepreneurs ‘ main sectors of activity, points to a worsening. “The economic climate indicator decreased in October and November, after having increased in the previous two months”, says the INE. Already consumer confidence is on a high and continues to rise.
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