The Portuguese economy expanded 0.4 percent on quarter in the first three months of 2018, below 0.7 percent in the previous period and market expectations of 0.5 percent. It is the lowest growth rate in three quarters, preliminary estimates showed.
The domestic demand contribution to growth was higher in Q1 than in Q4 as both gross fixed capital formation and private spending accelerated. On the other hand, net trade weighed down on the growth as imports rose faster than exports.
Year-on-year, the economy grew 2.1 percent, below 2.4 percent in the previous period and the lowest in six quarters. Private consumption eased while investment and inventories rose slightly faster. Also, net trade contributed more negatively as exports slowed more than imports.
5/15/2018 9:02:57 AM