GDP in Portugal
Portugal - GDP
Economic growth picks up in Q4, powered by a stronger external sector
According to preliminary estimates released by the country’s Statistical Institute (INE) on 14 February, GDP grew 0.6% in quarter-on-quarter, seasonally-adjusted terms in the fourth quarter, up slightly from the third quarter’s revised 0.4% expansion (previously reported: +0.3%). The fourth-quarter uptick brought annual growth for the full year to 2.0% for 2019, down from 2018’s 2.4% expansion.
While a detailed breakdown will not be released until 28 February, the preliminary estimate indicated that the external sector drove the quarterly acceleration after subtracting from growth in Q3. Domestic demand, however, dragged on the overall figure in the final quarter of the year. Slowing retail sales suggested weaker private consumption growth, while fixed investment is also expected to have lost traction.
Looking ahead, softer domestic demand is set to drag on economic activity this year, amid downbeat consumer confidence and a steep decline in fixed investment growth. However, an uptick in income growth, a tightening labor market and subdued inflationary pressures bode well for private consumption, while industrial output is well placed to bounce back from 2019’s contraction.
FocusEconomics Consensus Forecast panelists project GDP to expand 1.6% in 2020, which is unchanged from last month’s forecast, and 1.5% in 2021.
Portugal - GDP Data
|Economic Growth (GDP, annual variation in %)||0.9||1.8||1.9||2.8||2.1|
5 years of economic forecasts for more than 30 economic indicators.
Portugal GDP Chart
Source: Statistics Portugal (INE).
|Bond Yield||0.45||-1.90 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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February 14, 2020
According to preliminary estimates released by the country’s Statistical Institute (INE) on 14 February, GDP grew 0.6% in quarter-on-quarter, seasonally-adjusted terms in the fourth quarter, up slightly from the third quarter’s revised 0.4% expansion (previously reported: +0.3%).
January 31, 2020
Consumer sentiment weakened further in January, with the consumer confidence index inching down to minus 8.4 points from minus 8.3 points in December.
January 30, 2020
Industrial production jumped 3.3% higher in December over the same month of the previous year, following a revised 0.4% rise in November (previously reported: +0.2% year-on-year) and marking the strongest expansion in two years.
January 2, 2020
Consumer sentiment slumped in December, with the consumer confidence index slipping to minus 8.3 points from minus 6.9 points in November.
December 30, 2019
Industrial production inched up 0.2% in November over the same month of the previous year, following a revised 2.3% year-on-year drop in October (previously reported: -2.4% year-on-year).