Portugal GDP

Portugal

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.

The Bank of Portugal expects the economy to expand 1.5% in 2015 and 1.6% in 2016. FocusEconomics Consensus Forecast panelists expect that GDP will expand 1.5% in 2015, which is up 0.1 percentage points from last month’s projection. For 2016, the panel expects economic growth to accelerate to 1.7%.


Author:, Economist

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Portugal GDP Q4 2014 0

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


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