GDP figures remain to the good

Page created: Friday, 14 November 2014 15:29 GMT

GDP  GDP Growth

The Portuguese economy put on 0.2% on a quarterly basis and 1% in annualised terms according to statistics released by the National Institute of Statistics on Friday.

The figure provides grounds for both pessimism and optimism given that whilst the year-on-year figure is an improvement on the 0.9% seen in the second quarter, the quarterly figure is down from the 0.3% recorded in the second quarter.

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The institute identified “a more intense positive contribution” coming from internal demand whilst external demand slackened somewhat.

The number crunchers pointed to strong demand in terms of household consumption that had driven an acceleration in imports while exports of goods and services had remained broadly unchanged.

The figures released Friday by the National Institute of Statistics represent “rapid estimates” and whilst emphasising that they already incorporated core information, they do not substitute the official figures released on November 28.