Portugal GDP


Q1 contraction milder than expected

In the first quarter, GDP fell 0.1% over the previous quarter, according to a flash estimate released by Statistics Portugal on 15 May. The decline was only a fraction of the 1.3% contraction recorded in the fourth quarter and widely undershot market expectations of a 1.0% fall. That said, the reading represents the sixth consecutive quarter of contraction for the Portuguese economy. Detailed and more complete data will be published on 8 June. In annual terms, GDP contracted 2.2%, an improvement over the 2.9% decline recorded in the final quarter of 2011. According to Statistics Portugal, the first quarter reading reflected a reduction in the negative contribution of domestic demand to overall growth. On the other hand, the net contribution from the external sector declined, as imports improved more than exports.


Sample Report

Looking for forecasts related to GDP in Portugal? Download a sample report now.


Portugal Economic News

More news

Search form