SYNTHESIS INE@COVID-19, 8-Sept -2020

www.ine.pt page 7/10 September . 08. 2020 SYNTH SIS IN @ COVID-19 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt Comparing with the first quarter 2020: • The final consumption expenditure of Resident Households diminished by 14.0% (-2.9% in the previous quarter), with a 23.8% decrease in the component of durable goods (mainly motor vehicles); • The expenditure on non-durable goods and services decreased by 13.0% (rates of -8.4% and -2.3% in the first quarter, respectively); • The private consumption recorded a year-on-year rate of change of -21.7% (-2.1% in the previous quarter. Investment recorded a year-on-year decrease of 10.8% In the second quarter of 2020, Investment registered a year-on-year decrease of 10.8% in volume (-3.5% in the previous quarter). Investment Volume (reference year =2016) (Year-on-year change) Gross Fixed Capital Formation (Year-on-year change) - 10.8% -30.0% -25.0% -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Mention should be made of the GFCF component in Construction, which in the opposite direction increased by 7.5% (+ 2.5% in the previous quarter), in contrast to that observed in several European Union countries, where the construction sector will also have been greatly affected by the negative impact of the COVID-19 pandemic. When compared with the first quarter of 2020, total Investment declined by 6.6% (-1.1% in the previous quarter). -69.9% -22.4% -5.2% 7.5% -9.0% -0.3% -7.5% 0.7% 2.5% - 0.6% -80.0% -40.0% 0.0% 40.0% Transport Equipment Other Machinery and Equipment Intellectual Property Products Total First quarter Second quarter Construction The Gross Fixed Capital Formation (GFCF) decreased by 9.0% year-on-year (-0.6% in the previous quarter), but with a very heterogeneous behavior in its components.