The Portuguese economy grew by 0.2% in the third quarter of 2026, trailing the European Union average, which recorded growth of 0.5% during the same period.
This update is from Bica
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The average interest rate for new retail term deposits reached 1.82% in September, up from 1.63% in August. This is the eighth consecutive monthly increase, marking the highest rate since March 2025, though it remains below the Eurozone average of 2.37%.
Between July and September 2026, the average house price in Portugal reached 3,416 euros per square metre, an increase of 13.1% year-on-year, while the number of homes sold fell by 12.5% compared to the same period in 2025. In Lisbon, average prices hit 5,963 euros/m², and in Porto, they rose 14.7% to 4,382 euros/m².
The BFF Banking Group, in collaboration with Nova SBE, projects Portugal's economy to grow by 2.3% in 2026, outperforming its own previous forecasts and the European average. While the report highlights record-low unemployment of 5.3% and growth in mortgage lending, it notes rising labor costs due to staff shortages and a 1.9% decline in fixed capital investment as the PRR program concludes.