Portugal: GDP growth accelerates in the third quarter
October 31, 2022
According to a preliminary reading, GDP growth picked up to 0.4% on a seasonally adjusted quarter-on-quarter basis in the third quarter, from 0.1% in the second. Although a full breakdown is not yet available, the flash estimate revealed that domestic demand became a positive contributor to the reading, with private consumption growing despite higher inflation during the quarter. On the other hand, the external sector posted a smaller contribution.
On an annual basis, economic growth waned notably to 4.9% in Q3, from the previous quarter's 7.4% increase. Q3's reading marked the worst reading since Q1 2021.
A detailed breakdown will be published on 30 November.