Banco de Portugal warned about the impact of the first delivery in 2020 on the 2021 data.
After Easter, economic activity in Portugal increased. According to the daily indicator of the Bank of Portugal, until April 11, this is the result of the start of Portugal’s second deflation, which was released this Thursday.
The head of the banking industry said in a press release: “During the week ending April 11, the Daily Economic Activity Index (DEI) increased year-on-year and increased from the previous week.”
However, the Bank of Portugal warned: “The latest development of DEI is strongly influenced by the basic impact of the verification event in 2020, which will seriously affect the year-on-year evolution of the event in 2021.”
Therefore, the agency also compared the data before April 11, 2021 before the pandemic with the indicators recorded during the same period in 2019. Therefore, “the biennial rate for this period has been reduced.
This indicator uses various data such as “road traffic of heavy commercial vehicles on highways, consumption of electricity and natural gas, cargo and mail landing at national airports, and purchases made with cards by residents and non-residents in Portugal”.
Portugal began its second deflation on March 15, which included the opening of preschool and the first cycle, and the reopening of hairdressers, bookstores, music stores and car dealers. Since April 5th, the second and third cycle schools have opened shops with an area of 200 square meters, with doors leading to the street, and the terraces of cafes and restaurants have also been opened.