Portugal Changes In Inventories
Portugal · Quarterly series · EC-PT-IC
Latest, Q2 2026
186.30M EUR
-33.7% from Q1 2026
Forecast
Forecast for Q2 2027: 160.67M EUR, with an 80% interval of -121.20M EUR to 407.58M EUR.
| Period | Forecast | 80% low | 80% high |
|---|---|---|---|
| Q3 2026 | 162.07M EUR | -384.70M EUR | 643.88M EUR |
| Q4 2026 | 159.22M EUR | -433.59M EUR | 676.93M EUR |
| Q1 2027 | 159.22M EUR | -192.52M EUR | 469.08M EUR |
| Q2 2027 | 160.67M EUR | -121.20M EUR | 407.58M EUR |
AI confidence
Supported evidenceThe 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.
- Band coverage uses all stored test windows, including model-selection windows when present; it does not determine the confidence label.
- Evaluated 2026-11-14 against the cached history through 2026-06-01.
- This is an evaluation of the serving model; it does not establish a winner across four model classes.
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.
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.
Recent history (24 observations)
| Period | Value |
|---|---|
| Q2 2026 | 186.30M EUR |
| Q1 2026 | 280.80M EUR |
| Q4 2025 | -404.40M EUR |
| Q3 2025 | 191.21M EUR |
| Q2 2025 | 252.67M EUR |
| Q1 2025 | 623.25M EUR |
| Q4 2024 | -145.25M EUR |
| Q3 2024 | 386.31M EUR |
| Q2 2024 | 148.08M EUR |
| Q1 2024 | 64.30M EUR |
| Q4 2023 | 159.40M EUR |
| Q3 2023 | 270.78M EUR |
| Q2 2023 | -39.34M EUR |
| Q1 2023 | -35.52M EUR |
| Q4 2022 | 191.16M EUR |
| Q3 2022 | 95.24M EUR |
| Q2 2022 | 286.86M EUR |
| Q1 2022 | 443.21M EUR |
| Q4 2021 | 353.32M EUR |
| Q3 2021 | 279.12M EUR |
| Q2 2021 | 14.80M EUR |
| Q1 2021 | 190.41M EUR |
| Q4 2020 | 170.36M EUR |
| Q3 2020 | -341.11M EUR |
Source
Data: public market data feeds.
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Also stored for Portugal
- Portugal Asylum Applications
- Portugal Balance Of Trade
- Portugal Bank Lending Rate
- Portugal Banks Balance Sheet
- Portugal Building Permits
- Portugal Business Confidence Index
- Portugal CO2 Emissions
- Portugal CPI Housing Utilities
- Portugal CPI Transportation
- Portugal Capacity Utilization
- Portugal Capital Flows
- Portugal Car Production