Portuguese GDP Growth Revised Down in Q2


The Portuguese economy advanced 0.3 percent on quarter in the April to June period, down from a preliminary estimate of a 0.6 percent increase. The difference is mainly due to methodological changes in computing GDP figures.

Statistics Portugal changed the base year of GDP calculation from 2006 to 2011. The new figures are adjusted for seasonal and calendar effects while before only seasonal adjustment was taking into account. As a result, the economy advanced at a slower 0.3 percent in the second quarter of 2014, as the Easter holiday effect was considered. 

In contrast, the year-on-year figure was revised upwards to show a 0.9 percent expansion (0.8 percent in the flash estimate). Exports rose at a slower 2.4 percent and internal demand eased to 1.8 percent. 

Portuguese GDP Growth Revised Down in Q2


INE | Joana Taborda | joana.taborda@tradingeconomics.com
9/8/2014 11:58:01 AM