The Portuguese quarterly economic growth was confirmed at 0.5 percent in the first quarter of 2019, slightly above the previous period's figure of 0.4 percent and in line with preliminary estimates. It is the strongest growth rate since the second quarter of 2018. Year-on-year, the economy grew 1.8 percent in the first quarter, also unrevised from the preliminary estimate and above the 1.7 percent expansion recorded in the prior period. GDP Growth Rate in Portugal averaged 0.41 percent from 1988 until 2019, reaching an all time high of 3.30 percent in the fourth quarter of 1990 and a record low of -2.60 percent in the first quarter of 1991.
GDP Growth Rate in Portugal is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Portugal to stand at 0.40 in 12 months time. In the long-term, the Portugal GDP Growth Rate is projected to trend around 0.30 percent in 2020, according to our econometric models.