Portuguese GDP Growth Confirmed at 0.2% in Q3


In the third quarter of 2013, the Portuguese economy advanced 0.2 percent over the previous quarter, down from a 1.1 percent expansion in the preceding three-month period and matching the initial estimate released earlier in November.

Domestic demand presented a positive contribution of 1.3 percentage points to the GDP quarter-on-quarter change rate (0.5 percentage points in the second quarter), associated to positive rates of private consumption and investment. On the other hand, the net external demand presented a negative contribution (-1.1 percentage points), after a positive one observed in the second quarter (0.7 percentage points), reflecting the decrease of exports of goods and services (-0.2%).

Year-on-year, the GDP shrank 1 percent, which compares with the rate of -2.0 percent in the preceding quarter. Domestic demand recorded a less negative contribution, shifting from -2.9 percentage points in the second quarter to -1.6 percentage points in the third quarter, mainly driven by the less significant decline of final consumption expenditure of resident households. The contribution of net external demand decreased from 0.8 percentage points to 0.6 percentage points in the third quarter, due to the deceleration of exports of goods and services.

Portuguese GDP Growth Confirmed at 0.2% in Q3


INE | Joana Taborda | joana.taborda@tradingeconomics.com
12/9/2013 11:18:55 AM