According to the note accompanying the daily indicator of economic activity (DEI), "in the week ending on 29 March, the daily indicator of economic activity (DEI) points to an annual rate of change in activity below that observed in the previous week."

This indicator aggregates high-frequency data on economic activity in Portugal, including road traffic of heavy commercial vehicles on highways, electricity and natural gas consumption, cargo and mail unloaded at national airports, and purchases made with cards in Portugal by residents and non-residents.

The DEI registered a daily decline from 21 March to 29 March, a period marked by uncertainty amid the conflict in the Middle East and the sharp rise in fuel prices.

According to the series provided by the central bank, the largest reductions in DEI this year occurred on March 28 and 29, at 5.3% and 4.9%, respectively.

There were three consecutive weeks of fuel price increases in March amid strong geopolitical tensions in the Middle East, as oil prices were pressured by the closure of the Strait of Hormuz and volatility in international markets.