Portugal: Economy expands more than expected

Page created: Tuesday, 15 November 2016 15:39 GMT

Exports  GDP   Goods and Services  INE

Lisbon, Nov. 15 (Lusa) – The Portuguese economy expanded 1.6% in the 3rd quarter of this year compared with the same period in 2015 and 0.8% compared with the 2nd quarter the Portuguese National Statistics Institute (INE) said on Tuesday.


It stressed that the increase in exports “covered goods as well as services”.


On the other hand, internal demand also contributed towards the increase in Gross Domestic Product (GDP) in the 3rd quarter due to an increase in non-durable goods and services, while durable goods dropped.


The figures released today are better than expected by various expects Lusa contacted, who were expecting a 0.3% increase since the 2nd quarter and a 1.1% y-o-y jump.