Thursday, 3/04/2021 15:11
GOLD PRICES steadied above this week s 9-month lows against a rising US Dollar in London on Thursday, trading at $1715 per ounce as the slump in government bond prices also took a pause, stemming the surge in longer-term interest rates. Ten-year US Treasury yields slipped back to 1.47% after making their steepest 8-week rise since 2018 so far this year, surging by over half-a-percentage point. The pause in rising yields has come as inflation expectations have stabilised around 2.2% on 10-year forecasts in the bond market. Adjusted by those forecasts, the real 10-year US yield today slipped back to -0.76% per annum, markedly below
Worst year for Algarve tourism
In 2020, the Algarve recorded its worst year of tourism in terms of both occupancy rates and economic and business performance.
Turnover fell by more than €800 million during 2020, (-65.1 percent) as a result of falls in demand from the main external markets, (-75.1 percent), while the domestic market, despite increased demand in the summer months, ended the year with 1.1 million fewer overnight stays and 335,000 guests, (-21.2 percent).
According to data provided by AHETA (the Algarve hotel association), the average overall occupancy rate reached 27.7 percent in 2020, corresponding to 8.7 million overnight stays, the worst record ever. It should be remembered that in 2019 the Algarve had an average occupancy rate of 63.2 percent, or over 24 million overnight stays.
Economy to return to pre-crisis levels in 2022 By TPN/Lusa, in Business · 18-12-2020 01:00:00 · 0 Comments
The governor of Banco de Portugal (BdP), Mário Centeno, has stated that the Portuguese economy should return to pre Covid-19 levels in 2022.
”We hope that economic activity will reach pre-pandemic values throughout the year of 2022. By the end of 2022, these values will have been reached, according to our projection,” Mário Centeno told reporters at the presentation of the December BdP Economic Bulletin.
The BdP maintained its forecasts for the Portuguese economy in 2020, anticipating an 8.1 percent drop in Gross Domestic Product (GDP), according to the Economic Bulletin, and for 2021 and 2022 it expects economic growth of 3. 9 percent and 4.5 percent, respectively.