Portugal GDP

Portugal

Portugal: GDP rebounds in Q2 and expands at the fastest pace since Q2 2013

August 14, 2014

In Q2, GDP expanded 0.6% over the previous quarter according to the flash estimate released by Statistics Portugal on 14 August. The increase contrasted the 0.6% contraction tallied in Q1 and marked the highest growth rate in four quarters. On an annual basis, GDP expanded 0.8%, which was down from the 1.3% rise recorded in Q1.

According to Statistics Portugal, the Q2 expansion came on the back of a positive, albeit more moderate, contribution from domestic demand and a smaller negative contribution from the external sector.

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 down 0.1 percentage points from last month’s projection. For 2015, the panel expects economic growth to accelerate to 1.5%.


Author: Angela Bouzanis, Senior Economist

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Portugal GDP Chart


Portugal GDP Q2 2014

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


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