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PORTUGAL LOCKED INTO SLOW GROWTH.
(From Market - Europe)
Portugal's private sector is locked into a pattern slow growth in internal demand for goods and services. The nation finds itself in an economic straightjacket because inflation and deficit levels are running in excess of EC limits
With purchasing power parity of less than US$16,000 per annum, the average citizen of Portugal's power to consume is well below the EC average. Declining consumer confidence portends slack demand through at least the first half of 2003, with year-on-year growth not exceeding 3 percent. Confidence is likely to remain depressed through most of 2003 or until there are clear signs of economic recovery
GDP expansion of from 1 to 1.5 percent in 2003 will put any improvement in living standards out of reach for another year. Internal demand for ...
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