Growth was mainly driven by domestic demand, namely private consumption and investment. On the other hand, net trade contributed negatively to growth, after being null in the previous quarter.
Year-on-year, the economy advanced 2.1 percent in the third quarter, following an upwardly revised 2.4 percent expansion in the previous period. It was the lowest expansion rate since the three months to June of 2016. Domestic demand increased at a softer pace, due to a slowdown in private consumption while investment rose faster; and net trade contributed negatively to growth – similar to that observed in the previous two quarters.
In 2017, Portugal’s economy grew by an upwardly revised 2.8 percent.