Portugal GDP Growth Lowest in Over 2 Years



The Portuguese economy advanced by 0.3 percent on quarter in the three months to September of 2018, following an upwardly revised 0.6 percent expansion in the previous period, a preliminary estimate showed. It was the lowest growth rate since the second quarter of 2016.

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.

Portugal GDP Growth Lowest in Over 2 Years


INE | Agna Gabriel | agna.gabriel@tradingeconomics.com
11/14/2018 12:49:12 PM