GDP unchanged in Q2; YoY growth slows to 2.3%
In the first quarter, the year-on-year increase in GDP had been 2.5%, the INE recalled in its release for the 30-day flash estimate of the Quarterly National Accounts.
Portugal’s gross domestic product stagnated in the second quarter relative to the first, with GDP up 2.3% compared to the same period last year, according to the flash estimate of the country’s National Statistics Institute (INE), released on Monday.
In the first quarter, the year-on-year increase in GDP had been 2.5%, the INE recalled in its release for the 30-day flash estimate of the Quarterly National Accounts.
According to the entity, which is also known as Statistics Portugal, “the positive contribution of net external demand to the year-on-year change in GDP was lower than in the previous quarter, with a more marked deceleration in exports of goods and services than in imports of goods and services.”
The institute also stresses that in relation to the first quarter of the year, the rate of change of GDP was zero.
