Inflation in services continues

Central banks have injected a lot of money into the economy to avoid recessions, they have managed to control inflation without causing problems with unemployment rates, but "recessions cause pain, but they are good because they cleanse”.

The debate on International Trends and Prospects was moderated by Leonor Mateus and featured Maria João Tomás, Catarina Castro, Pedro Baldaia and António Seladas. "The American market is trading at PER (price-to-earnings ratio) multiples of 22 times for the next 12 months. 25 years ago, it was trading at those levels, but three months later it reached multiples of 25 to 26 times and collapsed,” said António Seladas, an analyst at AS Independent Research, in the debate on International Trends and Prospects, held at the 13th edition of the Big Conference ‘The Future of Financial Markets’, organized by Negócios and Banco Carregosa, with the support of ISCTE Business School. He also pointed out that, historically, the long-term average is 16 times and the average over the last 5 years is around 19 times, which makes it difficult to expect a positive return on the stock market in 12 months.