Financial News: Portugal GDP Growth Revised Up, Inflation Eases Slightly

Portugal GDP Growth Revised Up, Inflation Eases Slightly

02/28/2025 - 09:52:00 (RTTNews)

(RTTNews) - Portugal's economy expanded slightly more than initially estimated in the fourth quarter, flash data from Statistics Portugal showed on Friday.

Gross domestic product, or GDP, advanced 2.8 percent year-on-year in the fourth quarter, faster than the 1.9 percent rise in the third quarter. In the flash report, the rate of increase was 2.7 percent.

Further, this was the biggest growth since the second quarter of 2023, when GDP had risen 3.1 percent.

The positive contribution of domestic demand to the year-on-year change in GDP increased, rising from 2.9 percent in the third quarter to 3.1 percent, with acceleration in private consumption and a reduction in investment, the agency said.

On a quarterly basis, the economy expanded at a faster pace of 1.5 percent in the fourth quarter, as estimated, after growing 0.2 percent in the previous quarter.

Separate official data showed that consumer price inflation eased slightly to 2.4 percent in February from 2.5 percent.

The annual price growth in energy products moderated to 1.5 percent from 2.4 percent. Meanwhile, costs for food products rose at a faster pace of 2.4 percent.

Excluding unprocessed food and energy products, underlying inflation eased to 1.5 percent from 2.4 percent.

On a monthly basis, consumer prices dropped 0.1 percent versus a 0.5 percent decline in the previous month.

The EU measure of inflation also eased to 2.4 percent in February from 2.7 percent in the previous month.

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