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Financial News: Portugal GDP Growth Stable In Q2

Portugal GDP Growth Stable In Q2

08/14/2019 - 10:35:00 (RTTNews)

(RTTNews) - Portugal's economic growth retained its momentum in the second quarter, as weaker domestic demand was offset by a rebound in external demand, flash estimates from Statistics Portugal revealed on Wednesday.

Gross domestic product grew 0.5 percent quarter-on-quarter, same as in the previous three months.

On a year-on-year basis, GDP growth was 1.8 percent, same as in the previous quarter.

The contribution of domestic demand to the year-on-year GDP rate of change decreased, reflecting the deceleration of final consumption expenditure and, in larger extent, of Investment, the agency said.

In contrast, net external demand's contribution was less negative than in the last quarter, as imports slowed more than exports.

In the fourth quarter of 2018, GDP rose 0.4 percent quarterly and 1.7 percent from a year ago.

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