Portugal GDP Contracts in Q1


The Portuguese economy contracted 0.7 percent in the first three months of 2014, following a revised 0.5 percent expansion in the previous quarter, hurt by a fall in exports.

The first quarter GDP contraction follows three consecutive quarters of economic growth.

Year-on-year, the economy expanded 1.2 percent, lower than 1.5 percent in the last three months of 2013. Net external demand recorded a pronounced negative contribution to GDP, mainly due to lower exports while imports accelerated. In contrast, domestic demand posted a more significant positive contribution in the first quarter, boosted by higher investment.

Portugal GDP Contracts in Q1


INE | Joana Taborda | joana.taborda@tradingeconomics.com
5/15/2014 10:55:51 AM