Portuguese Economy Rebounds in Q4 2013
In the last quarter of 2013, Portugal’s GDP advanced 0.5 percent over the previous quarter, accelerating from a 0.3 percent expansion in the previous three-month period, flash estimates showed.
2/14/2014 11:42:46 AM
Q4 2013 figure is the second highest in the last four years.
Year-on-year, the economy grew for the first time in two years. The GDP advanced 1.6 percent, following a decrease of 0.9 percent in the third quarter. Growth was mainly driven by the upturn of domestic demand, which presented the first positive contribution to the GDP since the fourth quarter of 2010, mostly due to private consumption. The positive contribution of net external demand increased in the fourth quarter, boosted by exports of goods and services.
In 2013, the Portuguese GDP shrank by 1.4 percent, better than the 3.2 percent contraction in 2012.