After a year in negative territory the Bank of Portugal’s Daily Indicator of Economic Activity has shown the national economy ‘return to green in comparison with the year before’. Explains Expresso, “driven by ongoing deflation, vaccination and the base effect (in the second quarter of 2020, economic activity plummeted due to the first national lockdown) – the economy is unlikely to return to the red”. Indeed the Bank estimates that the fall in the Portuguese economy during the first trimestre of 2021 “will be inferior to that observed in the first trimestre of 2020”.
