Portugal’s GDP grows 2.6% in Q1
Statistics Portugal (INE) confirms on Tuesday that the country's GDP in the first quarter expanded by 2.6% from the previous quarter and was 11.9% larger than in the first quarter of last year.
Portugal’s gross domestic product (GDP) in the first quarter expanded by 2.6% from the previous quarter and was 11.9% larger than in the first quarter of last year, Statistics Portugal (INE) confirmed in a release on Tuesday.
In the quarterly national accounts released this Tuesday, the INE thus maintains its earlier estimate, released on March 29.
According to the new release, the year-on-year growth of 11.9% in the first quarter “reflects a base effect, since in January and February 2021 several measures were in place to combat the pandemic that strongly conditioned economic activity.”
