Portugal GDP Q4 2016

Portugal

Portugal: GDP growth eases in final quarter of 2016

February 14, 2017

Portugal’s GDP increased 0.6% in Q4 2016 from Q3, according to preliminary figures published on 14 February by the National Statistics Institute (INE). The reading was down from the 0.8% growth recorded in Q3. On a year-on-year basis, however, growth reached 1.9% in Q4, up from 1.6% in Q3 and was the highest reading in more than six years.

The preliminary report attributes the acceleration to an increase in domestic demand related to an investment upturn. Meanwhile, the external sector was a drag on growth this quarter, a swing into negative territory from a quarter earlier. GDP growth in 2016 fell to 1.4% from 1.6% in 2015.

The Bank of Portugal expects the economy to expand 1.2% in 2017. FocusEconomics Consensus Forecast panelists expect GDP to expand 1.4% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel also sees the economy growing 1.4%.


Author:, Economist

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Portugal GDP Chart


Portugal GDP Q4 2016

Note: Year-on-year and annual average variation in %.
Source: Statistics Portugal (INE) and FocusEconomics calculations.


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