Portugal GDP Growth Rate at 3-Year High of 0.8%

The Portuguese economy advanced 0.8 percent on quarter in the three months to September of 2016, up from a 0.3 percent increase in the previous period and beating market expectations of a 0.2 percent increase. It is the highest growth rate since the last three months of 2013, boosted by a rise in exports, preliminary estimates showed.

External demand accounted positively while internal demand weighed down on the growth.

Year-on-year, the economy expanded 1.6 percent, better than 0.9 percent in each of the previous two quarters and above expectations of 1 percent. It is the best annual growth in four quarters. Exports for both services and goods rose more than imports and private consumption accelerated.

The Portuguese government targets full year growth at 1.2 percent, down from earlier estimates of 1.8 percent but above European Commission forecasts of 0.9 percent. 

Portugal GDP Growth Rate at 3-Year High of 0.8%

INE | Joana Taborda | joana.taborda@tradingeconomics.com
11/15/2016 11:18:01 AM