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Financial News: Portugal GDP Growth Stable At 1.9%

Portugal GDP Growth Stable At 1.9%

11/14/2019 - 09:23:00 (RTTNews)

(RTTNews) - Portugal's economy grew at a stable rate in the third quarter, supported by private consumption as investment growth slowed, preliminary estimates from Statistics Portugal showed on Thursday.

Gross domestic product grew 1.9 percent year-on-year, same as in the previous quarter.

The contribution of net external demand remained negative, with both Imports and Exports of Goods and Services accelerating, the statistical office said.

On a quarter-on-quarter basis, GDP grew 0.3 percent in the third quarter after a 0.6 percent expansion in the previous three months.

Quarterly growth reflected the positive contribution of domestic demand, which also offset the negative contribution from net external demand.

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