Portugal Q4 GDP Growth Stronger than Expected
The Portuguese economy grew by 0.4 percent on quarter in the last three months of 2018, following a 0.3 percent expansion in the previous period and beating market expectations of 0.3 percent, a preliminary estimate showed.
2/14/2019 9:43:15 AM
Growth was mainly driven by domestic demand, while net trade contributed negatively to GDP growth.
Year-on-year, the economy advanced 1.7 percent in the fourth quarter, following a 2.1 percent expansion in the previous period. It was the weakest growth rate since the second quarter of 2016. The positive contribution of domestic demand increased, boosted by both investment and private consumption; while net external demand presented a more negative contribution to growth, due to a fall in exports.
In 2018, Portugal’s economy grew by 2.1 percent, slowing from a 2.8 percent expansion in 2017.