Portugal GDP Growth Revised Up to 0.2% in Q1

The Portuguese economy advanced 0.2 percent on quarter in the first three months of 2016, the same as in the previous period and above a preliminary estimate of a 0.1% expansion. It was the eighth consecutive period of growth, boosted by household spending while investment stalled and exports shrank.

Final consumption expenditure growth accelerated (up 1.1 percent compared to 0.1 percent in the previous quarter) boosted by household spending (+1.3 percent from +0.1 percent) as purchases of durable goods (+11.2 percent from +1 percent), food and beverages (+0.7 percent from -0.04 percent) and other non-durable goods and services (+0.3 percent from +0.1 percent) increased. Government expenditure (+0.3 percent from +0.1 percent) and non-profit institutions consumption (+0.4 percent from +0.3 percent) also increased at a faster pace.

In contrast, gross fixed capital formation showed no growth, after rising 0.6 percent in the last three months of 2015.

Net external demand contributed negatively to growth as exports fell (-0.7 percent from +1.9 percent) and imports grew (+1 percent from +1.7 percent). 

Year-on-year the economy advanced 0.9 percent, slowing from a 1.3 percent expansion in the previous quarter but above preliminary estimates of a 0.8 percent growth. Domestic demand slowed and net external demand made a negative contribution to growth.

Portugal GDP Growth Revised Up to 0.2% in Q1

INE | Francisco Caeiro | francisco.caeiro@tradingeconomics.com
5/31/2016 12:16:03 PM