Portugal: Economy loses momentum in the fourth quarter
According to a preliminary release, GDP growth edged down to 0.2% on a seasonally adjusted quarter-on-quarter basis in the fourth quarter, from 0.4% in the third quarter. Although a full breakdown is not yet available, the flash estimate revealed that domestic demand slowed while the external sector had a slightly negative impact on the reading.
On an annual basis, economic growth waned notably to 3.1% in Q4, following the previous quarter’s 4.9% growth. Private consumption and investment lost steam, moreover, the external sector weakened. Q4’s reading marked the worst reading since Q1 2021.
A detailed breakdown will be published on 28 February.