In the second quarter, GDP fell 1.2% over the previous quarter, according to a flash estimate released by Statistics Portugal on 14 August. The decline exceeded both the 0.1% contraction recorded in the first quarter as well as market expectations of a 0.7% fall. Moreover, the reading represents the seventh consecutive quarter of contraction for the Portuguese economy. Detailed and more complete data will be published on 7 September. In annual terms, GDP contracted 3.3%, which marked a deterioration over the 2.3% decline recorded in the first quarter and, in fact, the largest drop in three years. According to Statistics Portugal, the second quarter reading reflected a more negative contribution of domestic demand to overall growth, in particular, that of investment. On the other hand, the net contribution from the external sector improved, as exports outpaced imports. The government expects GDP to contract 3.0% this year before growing 0.2% in 2012
Portuguese economy remains in shambles
August 14, 2012
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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.