The Portuguese economy has experienced short-term inflation along with a slight slowdown because of the international credit crisis, but investors still find this country agreeable for investment and worthy of its own exchange traded fund (ETF).

Portugal is now accessible to investors, thanks to Northern Trust, which launched the NETS PSI-20 Index Fund (LIS), which is tied to the Euronext Lisbon exchange’s index of the largest and most liquid stocks trading on its main market, reports Heather Bell for Index Universe.

Portugal’s central bank governor cautioned that the country may enter 2009 in an economic slowdown. As with other euro-zone countries, higher oil prices have taken their toll on the economic growth, reports Dow Jones NewsWires on FX Street.

Portugal was the only country of the 15 euro-zone members to suffer an economic contraction during the first quarter. The good news is that efforts will be focused on avoiding second-round effects of the contraction, by upping domestic companies’ competitiveness and attracting foreign investment.

Tags: Europe