SYNTHESIS INE@COVID-19, 14 July 2020

July . 14 . 2020 page 7/13 Communication Unit | tel: +351 21 842 61 00 | sci@ine.pt www.ine.pt SYNTH SIS IN @ COVID-19 The perspectives for a decrease in investment in Manufacturing in 2020 are recorded in thirteen of its fourteen subsections, with the emphasis on Manufacture of Basic Metals; Manufacture of Fabricated Metal Products : -29.0%. In 2020, an increase in the percentage of enterprises indicating limitations to investment is observed in all economic activities: 44% (27.9% in 2019). This is the case in twelve of the thirteen sections surveyed. In Manufacturing , 49.9% of the enterprises reported limitations to investment (32.9% in 2019), with a more significant increase for exporting enterprises: 55.0% (32.7% in 2019). The factor limiting investment most mentioned by the enterprises for 2020 was the deterioration of sales perspectives: 46.7% of enterprises (36.3% in 2019). It is expected that in 2020, compared to the previous year, there will be an increase in the relative weight of the deterioration in sales perspectives and a reduction in the relative weight of the difficulty in recruiting qualified labour force. More information available at: Investment Survey – 1 st Semi-annual 2020 (9 July 2020) The Consumer Price Index increased to 0.1% in June, in year-on-year terms In June, the year-on-year rate of change in the Consumer Price Index (CPI) was +0.1% (-0.7% in May). The index for unprocessed food products recorded a year-on-year rate of change of +5.2% in June (+5.0% in May), while that for energy products registered a rate of change of -7.4% (-10.9% in May). The annual core inflation rate (total index excluding unprocessed food and energy products) registered a year-on-year rate of change of 0.2% (-0.4% in May). Consumer price and core inflation indices (year-on-year rate of change and 12-month moving average) -1.0% -0.5% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 CPI (12-month moving average) CPI (year-on-year rate of change) Core Inflation (year-on-year rate of change)