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Financial News: Portugal Q1 GDP Growth Unrevised

Portugal Q1 GDP Growth Unrevised

05/30/2018 - 06:31:00 (RTTNews)

(RTTNews) - Portugal's economic growth eased as initially estimated in the first quarter, latest figures from Statistics Portugal showed Wednesday.

Gross domestic product advanced 2.1 percent year-over-year in the first quarter, slower than the 2.4 percent stable increase in the fourth quarter. That was in line with the flash data published on May 15.

On a quarterly basis, the economy grew 0.4 percent from the fourth quarter, when it rose by 0.7 percent. The preliminary estimate was confirmed.

In an another report, the statistical office revealed that annual industrial production growth accelerated to 3.8 percent in April from 2.1 percent in March.

Monthly, industrial production dropped 3.1 percent from March, when it rebounded by 4.0 percent.

Meanwhile, year-on-year retail sales growth moderated sharply to 0.7 percent in April from 5.2 percent in the previous month. Compared to March, retail sales decreased 4.2 percent.

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