Portuguese economy expected to grow 1.7 pct in second quarter

13 July 2015

Portugal’s economy grew by 0.7 percent against the previous month and 1.7 percent year on year, slightly more than recorded in the first three months of the year, announced a studies centre of the Portuguese Catholic University.

The Economic Studies Centre of the Portuguese Economy (NECEP) warned that, although the data is positive, “these results, if verified, may be influenced by one-off statistical phenomena and should be read with caution.”

The NECEP pointed out that there is a “path of recovery” with more “consistent” signs of a rebound in investment, and points out that the “majority of economic activity indicators is consistent with a cyclical recovery phase, although structural constraints may limit intensity and length of recovery. ”

The studies centre of the Catholic University also estimated that in the second quarter, the unemployment rate dropped to 12.8 percent.

For 2015 and 2016 the NECEP estimated that the Portuguese economy will register growth of 2.1 percent and 2.0 percent, respectively. (macauhub/PT)