Portuguese Economy Returns to Growth in Q2


In the second quarter of 2013, Portuguese economy registered a 1.1 percent quarter-on-quarter expansion following 10 quarters of contraction in a row mainly driven by higher exports.

The quarterly expansion and the less intense annual reduction of GDP was mainly driven by the less pronounced decrease of investment, particularly in construction, and to the significant acceleration of exports of Goods and Services, partially due to the calendar effect associated to the Easter celebration (in 2012, it took place in April whereas in 2013 it occurred in March).

Comparing to the previous year, the economy fell 2.0 percent in volume, up from a revised fall of 4.1 percent in the previous quarter, according to the flash estimate of the Quarterly National Accounts.


Portuguese Economy Returns to Growth in Q2


INE | Nuno Fontes | nuno@tradingeconomics.com
8/14/2013 10:52:45 AM