Portugal GDP Annual Growth Slows in Q1

Portugal's GDP rose by 1.6% year-on-year in Q1 2025, slowing from a 2.8% growth in the previous three-month period, according to preliminary estimates.

The positive contribution of domestic demand to growth decreased in the first quarter due to a slowdown in private consumption.

At the same time, the negative impact of net external demand became more pronounced, reflecting a deceleration in exports of goods and services.

On a quarterly basis, the economy contracted by 0.5% in Q1, after a downwardly revised 1.4% rise in the previous period, contrary to analyst expectations of 0.4% growth.