Portuguese economy posts growth of 0.8 pct in second quarter

18 August 2014

The Portuguese economy posted growth of 0.8 percent in the second quarter of this year against the same period of 2013, the country’s National Statistics Institute (Statistics Portugal) said last week.

According to the published figures, gross domestic product (GDP) growth in Portugal continued to slow following an initial downturn in the first quarter of the year.

Following year-on-year growth of 1.5 percent in the fourth quarter of 2013, in the first quarter of 2014 growth fell to 1.3 percent and 0.8 percent in the second quarter.

According to statistics, Portugal these results are a reflection of a drop in gross fixed capital formation, or investment.

Against the previous quarter the Portuguese economy posted growth of 0.6 percent in the second quarter.

GDP figures for the second quarter were in line with the Euro Zone average (0.7 percent) and lower than growth for the whole European Union (EU), which overall posted growth of 1.2 percent in the period. (macauhub/PT)

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