Data released today by the Bank of Portugal showed a continuing negative three month trend which began in August.
According to the Monthly Economic Indicators revealed by the central bank's monthly report, economic activity fell -1.0% for the month.
This value is a decrease of 0.4% compared to September, but economic activity has in fact been slowing since March this year.
The Monthly Economic Indicators also showed a 1.7% drop in private consumption on top of a 1.8% fall in September.
The index of new orders in the construction sector recorded a strong decrease in the third quarter of 2014, down 31.2% mainly due to the engineering works sector according to a National Statistics Institute report today
In the previous quarter, the index had increased 1.9% giving a degree of hope to the Economy Minister who seized on the news as the green shoots of recovery.
Comments
"How do we pretend that, since 1974, it has all been change for the better. That Portugal will now race towards developed status, modernise and grow its economy and let nothing get in its way."
and
'"How to ignore the U in European Union as back in our history some European countries have been beastly to us and so must be kept out of Portugal ?"
In doing so it has allowed the most rampant illegalities to pass 'unnoticed'. Totally ignoring some laws for as long as possible and diluting others.
Additionally, amongst much else allowing the judiciary and police to remain un-reconstructed - so following all their previous Salazarist values.
Totally useless vales for an EU combining developed and developing countries where best practice is rewarded and wrong doing identified and punished as being anti-EU..
It cannot have escaped notice that Barroso, in charge of Europe during this financial crisis, has crowned his period of "success" with a pay-off that must excite envy even among the bankers.