Portugal GDP Growth Steady at 0.2% in Q2

The Portuguese economy expanded 0.2 percent on the quarter in the three months to June 2016, the same pace as in the previous period and in line with market expectations, preliminary estimates showed.

Compared to the first quarter of the year, net external demand was the main driver of growth while domestic demand stagnated.

Year-on-year, the GDP expanded 0.8 percent, lower than a 0.9 percent growth in the previous quarter and in line with market expectations. It was the lowest reading since the first quarter of 2015 as household consumption slowed and investment contracted while positive contribution came from net external demand.

The Portuguese government expects the economy to expand 1.8 percent this year.

Portugal GDP Growth Steady at 0.2% in Q2

INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/12/2016 9:58:04 AM