Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
PortugalPortugal Budget Balance climbed to -6.3B in July 2026
FMPMonthlyReleased September 2026
Portugal Budget Balance climbed to -6.3B in July 2026, released September 2026, up 0.4B from June's -6.7B reading. The reading matched the -6B consensus. The print is running well below the 12-month average of -4.62B. Over the past 3 months, Budget Balance averaged -6.5B, vs -2.55B in the prior 3-month window. The reading is in the 23rd percentile of the trailing 24-month range.
Latest Release
-6.3
Actual
-6
Consensus
-6.7
Previous
Median Absolute Error
±0.84 billion
across last 12 releases
Last Call
Sep 2026
Predicted: -5.7
Actual: -6.3
Error: +0.6
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▼ Inverse | −0.53 | COMMODITIES | Moves against | → View |
| GBP/USD | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| EUR/USD | ▼ Inverse | −0.49 | FOREX | Moves against | → View |
| S&P 500 | ▼ Inverse | −0.34 | INDEX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Budget Balance (Portugal) was reported at -6.30 billion in September 2026. This missed the market consensus of -6.00 billion by 0.30 billion. The reading rose from the previous value of -6.70 billion. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged -4.46 billion, ranging from -7.50 billion to -0.60 billion across 10 releases.
WHY IT MATTERS
The trailing three releases averaged -6.13 billion, down from the prior three at -3.10 billion. Volatility over the past year (σ 2.42 billion) is higher than the prior year (σ 1.82 billion). In September readings over the past 3 years, Budget Balance has averaged -4.53 billion.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with XAU/USD (Bearish XAU). A secondary relationship exists with GBP/USD, negatively correlated (Bearish GBP). Over the last 12 releases, the Sigmacast model's median absolute error is 0.84 billion.
WHAT TO WATCH NEXT
The next release is scheduled for October 5, 2026.
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
SHARE
Budget Balance - PT
Loading chart data...
About Budget Balance — Portugal
DEFINITION
Budget Balance is a financial indicator that measures the difference between a government's total revenue and total expenditure over a specific period of time. It provides insight into the fiscal health of a country or organization, indicating whether there is a surplus or deficit in their budget. This indicator is crucial in determining the government's ability to meet its financial obligations and make strategic decisions for future spending. A positive budget balance indicates a healthy financial position, while a negative balance may signal potential financial challenges.
WHY THIS INDICATOR MATTERS
Fiscal and debt-supply data influence sovereign-yield term premia and currency expectations, particularly when supply pressures interact with policy normalization. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual -6.3 B, consensus -6 B. Prior reading (Jun 2026): -6.7 B. Before that (Apr 2026): -5.4 B.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with XAU/USD (Bearish XAU, r=-0.53) — a useful reference for commodities-focused traders.
Σ
EXPECTED ZONE
SIGMANOMICS MARKET FORECAST ENGINE
Multi-horizon symbol forecasts, Rolling-Surprise economic predictions, and programmatic API access.
Expected Zones · Trade Bias · Confidence Intervals · API Access · 1,456+ instruments
FOREXCRYPTOSTOCKSCOMMODITIESINDICESAPI
BLSBEAFMPWORLD BANKFRED
1,456+ instruments247 indicators530+ correlationsREST + GQL API
4,151 economic indicators127 countries covered6 data sources
FREDBLSEIAECBBOJFMP
Economic Calendar - PT Events
| Friday, September 18, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 10:00 | PT | Producer Price Index MoM | 0.8 | 0.3 | 0.35 | Low | |
| 10:00 | PT | Producer Price Index YoY | 5.8 | 6.7 | 6.80 | Low | |
| 10:30 | PT | Current Account | -303.42 | 980 | 995.21 | Low | |