Portugal’s economy grows by 0.9 pct in second quarter of 2014

10 September 2014

Portugal’s Gross Domestic Product (GDP) grew by 0.9 percent in the second quarter of 2014 compared with the same period of 2013, the National Statistics Institute (INE) said in Lisbon.

INE also said that growth in the second quarter represented a decrease of 10 basis points compared to growth in the first quarter, when GDP grew 1.0 percent.

Domestic demand contributed less to annual GDP growth in the second quarter, from 3.3 percentage points in the first quarter of 2014 to 1.8 percentage points in the second quarter, mainly reflecting changes in investment.

Compared to the previous quarter, GDP increased by 0.3% in the second quarter of 2014 (-0.5% change from the first quarter), in real terms, mainly due to increased exports of goods and services.

INE said that these new quarterly series are consistent with the results of the annual National Accounts based on 2011 for the period 1995 to 2011, published on 29 August and, in addition to being seasonally adjusted, shall also be simultaneously adjusted to calendar effects. (macauhub/PT)