Portugal Changes In Inventories

Portugal · Quarterly series · EC-PT-IC

Latest, Q2 2026

186.30M EUR

-33.7% from Q1 2026

Open interactive chartPortugal Changes In Inventories in the app

676.9M-34.05M-745MQ3 1996Q2 2027
History through Q2 2026, the forecast path to Q2 2027 (dashed) and its 80% interval (shaded).

Forecast

Forecast for Q2 2027: 160.67M EUR, with an 80% interval of -121.20M EUR to 407.58M EUR.

Forecast path. Intervals are shown where available.
PeriodForecast80% low80% high
Q3 2026162.07M EUR-384.70M EUR643.88M EUR
Q4 2026159.22M EUR-433.59M EUR676.93M EUR
Q1 2027159.22M EUR-192.52M EUR469.08M EUR
Q2 2027160.67M EUR-121.20M EUR407.58M EUR

Model: Agentic Investor TSFM (foundation model). Forecast generated 2026-11-14.

AI confidence

Supported evidence

The point forecast beat the no-change baseline overall and in a majority of the evaluated tests.

Model: Agentic Investor TSFM (foundation model)

Accuracy vs naive
+19%Beats the no-change baseline over 8 tests (8 tests, 6 won)
Direction
69%No clear edge over a coin flip (22 of 32 calls right in 8 tests)
Turning points
6 of 17Anticipated some turns (17 turns in 8 tests, 0 without a turn)
Error vs baseline
19% lowerError ratio 0.81; 1.00 is a tie.
Tests won
6 / 8Complete rolling backtests; ties count as no win.
Test period
2018-09-01 to 2026-06-014 observations ahead per test.
80% band coverage
84%Observed outcomes inside the band across all stored test windows.
How this assessment is made

AI confidence describes historical evidence for this forecast, not a probability of being correct. Each backtest fits on data available before its test window. The baseline carries the last value forward. Supported evidence requires at least six complete, non-overlapping tests, an error ratio below 0.90 (rounded to two decimals), and wins in a majority of tests. Ratios from 0.90 to below 1.10 are on par; 1.10 or above is weak evidence. Inconsistent wins produce mixed evidence. For a selected model, only the recent tests excluded from model selection determine this label. These are historical simulations using the available data, not a live trading track record; revisions and foundation-model pretraining can limit how closely they reproduce a past decision. Past performance can change.

Replay past tests

Model comparison

Comparison pendingA new ticker first receives its serving model's forecast and evaluation. An eligible nightly batch can compare both candidates, subject to call budgets and retry limits.

Reading

It is above 51% of the 39 earlier readings since Q3 2016.

Written from the figures by a fixed template; no AI model is involved.

Recent history (24 observations)
The 24 most recent observations, newest first.
PeriodValue
Q2 2026186.30M EUR
Q1 2026280.80M EUR
Q4 2025-404.40M EUR
Q3 2025191.21M EUR
Q2 2025252.67M EUR
Q1 2025623.25M EUR
Q4 2024-145.25M EUR
Q3 2024386.31M EUR
Q2 2024148.08M EUR
Q1 202464.30M EUR
Q4 2023159.40M EUR
Q3 2023270.78M EUR
Q2 2023-39.34M EUR
Q1 2023-35.52M EUR
Q4 2022191.16M EUR
Q3 202295.24M EUR
Q2 2022286.86M EUR
Q1 2022443.21M EUR
Q4 2021353.32M EUR
Q3 2021279.12M EUR
Q2 202114.80M EUR
Q1 2021190.41M EUR
Q4 2020170.36M EUR
Q3 2020-341.11M EUR

Source

Data: public market data feeds.

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