Portugal: GDP picks up in Q4, economy expands in 2014 for the first time in five years
February 13, 2015
In Q4, GDP expanded 0.6% over the previous quarter, according to a flash estimate released by Statistics Portugal on 13 February. The result came in above the 0.3% increase tallied in Q3 and marked the third consecutive quarter of growth.
On an annual basis, GDP expanded 0.7%, which was down from the 1.1% expansion observed in Q3 and marked the lowest reading in five quarters. In the full year 2014, the economy expanded 0.9%, which contrasted the 1.3% contraction tallied in 2013 and marked the first year of positive growth since 2008. More detailed data is scheduled to be released on 27 February.
Author: Cecilia Simkievich, Economist