Portugal GDP


Portugal: GDP moderates slightly in Q3

November 14, 2014

In Q3, GDP expanded 0.2% over the previous quarter according to the flash estimate released by Statistics Portugal on 14 November. The increase was slightly below the 0.3% increase tallied in Q2 and marked the second consecutive quarter of growth. According to Statistics Portugal, the Q3 expansion came on the back of an increase in household consumption.

On an annual basis, GDP expanded 1.0%, which followed the 0.9% rise in Q2 and marked the largest growth rate in three quarters. More detailed data is set to be released on 28 November.

The Bank of Portugal expects the economy to expand 1.1% in 2014 and 1.5% in 2015. FocusEconomics Consensus Forecast panelists expect that GDP will expand 0.9% in 2014, which is unchanged from last month’s projection. For 2015, the panel expects economic growth to accelerate to 1.5%, which is also unchanged from the previous month’s projection.

Author: Angela Bouzanis, Senior Economist

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