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Financial News: Portugal GDP Growth Stable In Q2

Portugal GDP Growth Stable In Q2

08/30/2019 - 10:42:00 (RTTNews)

(RTTNews) - Portugal's economic growth retained momentum in the second quarter, as weaker domestic demand was offset by a rebound in external demand, latest data from Statistics Portugal revealed on Friday, confirming the initial estimates released on August 14.

Gross domestic product grew 0.5 percent quarter-on-quarter, same as in the previous three months.

On a year-on-year basis, GDP growth was 1.8 percent, same as in the previous quarter.

In the fourth quarter of 2018, GDP rose 0.4 percent quarterly and 1.7 percent from a year ago.

In the second quarter, the contribution of domestic demand to the year-on-year GDP rate of change decreased, reflecting the deceleration of investment, the agency said.

In contrast, net external demand contribution was less negative than in the last quarter, as imports slowed more intensely than exports.

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