Bank of Portugal Says Economy Weakened Less Last Month

Portugal’s economy probably weakened less in February than in the previous month, the Bank of Portugal said.

The bank’s coincident indicator, which combines several measures of economic activity and confidence levels, dropped 1.4 percent from a year earlier, after declining 1.5 percent in January, the central bank said today in its monthly report on the economy. The drop in February is the smallest in at least a year.

The Lisbon-based central bank’s indicator of consumer spending dropped 3.8 percent in February from a year earlier. In January, the indicator declined 4.2 percent.

(Corrects to say drop was smallest in at least a year in second paragraph.)
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