Investment has slowed down. INE confirms GDP of 1.8%

The National Institute of Statistics (INE) has confirmed this Friday that the economy kept performing well on the second trimester, despite the degradation of the external conjuncture. However, INE also warned of the investment’s slowing down.

On the 14th of August, INE revealed that the economy grew 0.5% relative to the first trimester as 1.8% relative to the second trimester of 2018. This morning, 30th of August, the Institute confirmed these figures, advancing more details on the evolution of the various components.

“GDP registered on the 2nd trimester of 2019 a nominal variation rate of 1.8%. The contribution of internal demand to GDP’s variation has dropped, however, 2.4% due to the deceleration of investment”, INE informed.

“Net external demand registered a less negative contribution of -0.6% as a result of the less intense deceleration of goods and services’ imports in comparison to the goods and services’ exports”, the institute added.

The data revealed by INE also shows that the Portuguese economy is stabilising with GDP growing 0.5%, the same as at the beginning of the current year.