Portuguese GDP Grows 0.5% in Q3


The Portuguese economy advanced 0.5 percent on quarter in the three months to September of 2017 after expanding 0.3 percent in the previous period and missing market expectations of 0.6 percent, the preliminary estimates showed.

The figure marked a third year of consecutive growth, as the contribution from net external demand shifted to positive from negative, with exports rising faster than imports. Meanwhile, the contribution from domestic demand decreased slightly, mainly due to lower investment while private consumption recovered.

Year-on-year, the GDP expanded 2.5 percent, below 3 percent in the previous period and missing market expectations of 2.8 percent. The positive contribution of domestic demand increased, due to rising private consumption while investment slowed. The contribution from net external demand was negative amid a sharper deceleration in exports and a rise in imports.

The government revised up its 2017 GDP growth estimates to 2.6 percent from 1.8 percent. For 2018, the economy is expected to advance at a slower 2.2 percent. This compares with the European Commission projections of 2.6 percent and 2.1 percent, respectively.

Portuguese GDP Grows 0.5% in Q3


INE | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
11/14/2017 11:55:22 AM