Portugal: GDP growth disappoints again in Q2
August 12, 2016
A preliminary estimate released by the National Statistics Institute on 12 August showed that Portugal’s GDP increased 0.2% in Q2 over the previous quarter in seasonally-adjusted terms. Q2’s growth rate matched the pace observed in Q1, but marked another quarter of disappointing growth as markets had expected a 0.3% rise.
In a statement, the Statistical Institute said that the subdued figure in Q2 was mainly the result of a positive contribution from net exports, while growth in domestic demand was null.
On an annual basis, the economy continued losing momentum and moderated from a 0.9% increase in Q1 to a 0.8% expansion in Q2. The print marked the slowest increase since Q4 2014. More detailed data will be published on 31 August.
Author: Ricardo Aceves, Senior Economist