In the third quarter, GDP contracted a seasonally adjusted 0.4% over the previous quarter, according to a flash estimate released by the Central Statistics Office (INE) on 14 November. The reading represented a deterioration compared to the revised 0.1% contraction recorded in the second quarter but was better than market expectations of a 0.7% decline. Compared to the same period last year, the economy contracted 1.7%, which was down from the previous quarter's 1.0% decline. A revised and complete set of data will be released on 9 December. According to the Statistics Office, the deterioration was mainly driven by a deceleration in exports of goods and services and by a stronger decrease in investment. Private consumption continued to decline rapidly in the third quarter. The Central Bank projects the economy to contract 1.9% this year and 2.2% next year.
Economy continues to deteriorate in third quarter
November 14, 2011
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Portugal Economic News
September 30, 2016
Portugal’s industrial production edged up in August after July’s drop.
September 29, 2016
The survey of consumer sentiment produced by the National Statistical Institute showed that the consumer confidence index inched up from minus 12.7 points in August to minus 11.3 points in September.
August 31, 2016
Portugal’s GDP increased a seasonally adjusted 0.3% in Q2 over the previous quarter, according to revised data published by the National Statistics Institute on 31 August.
August 30, 2016
Portugal’s industrial production edged down again in July after June’s rebound.
August 30, 2016
The survey of consumer sentiment produced by the National Statistical Institute showed that the consumer confidence index inched up from minus 13.1 points in July to minus 12.7 points in August.