FOREX TradingCharts.com

Financial News: Portugal Q2 GDP Growth Eases Less Than Estimated;

Portugal Q2 GDP Growth Eases Less Than Estimated; CPI Inflation Slows Slightly

08/31/2022 - 09:03:00 (RTTNews)

(RTTNews) - Portugal's economic growth moderated less than initially estimated in the second quarter, while consumer price inflation slowed marginally in August, data from Statistics Portugal showed on Wednesday.

Gross domestic product advanced 7.1 percent year-on-year in the June quarter, well below the first quarter's 11.8 percent increase. The second quarter figure was revised up from a 6.9 percent rise reported initially on July 29.

The annual evolution partly reflects a base effect, given that in the first quarter of 2021 several measures were in force to combat the pandemic that conditioned economic activity, the agency said.

On the expenditure side, the growth in domestic demand eased notably from 10.0 percent to 3.7 percent, as private consumption and investment grew at a slower pace.

Meanwhile, net external demand rose more strongly by 3.5 in the second quarter, led by a faster rise in exports than imports.

On a quarterly basis, GDP remained flat in the second quarter versus a 2.5 percent rise in the previous quarter. In the initial estimate, GDP logged a decline of 0.2 percent.

In a separate flash report, the statistical office revealed that consumer price inflation eased marginally to 9.0 percent in August from 9.1 percent in July.

The core CPI, which excludes energy and unprocessed food products components, climbed 6.5 percent yearly in August, faster than the 6.2 percent increase in the previous month. Core inflation was the highest since March 1994.

Prices for energy products grew 24.0 percent annually in August, and prices for unprocessed food gained 15.4 percent.

On a monthly basis, consumer prices dropped 0.3 percent in August, after showing no variations in July.

The EU measure of harmonized index of consumer prices, or HICP, rose at a stable rate of 9.4 percent annually in August.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Trade Data On Tap For Thursday (32 min(s), 53 sec(s) ago)
(RTTNews) - Australia will on Thursday release August numbers for imports, exports and trade balan ...Full Story»

Ireland Jobless Rate Remains Stable In September (07 hr(s), 34 min(s), 53 sec(s) ago)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story»

Brazil Industrial Production Falls As Expected (07 hr(s), 51 min(s), 53 sec(s) ago)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story»

U.S. Services Index Indicates Slightly Slower Growth In September (07 hr(s), 57 min(s), 53 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story»

U.S. Trade Deficit Narrows To Smallest In Over A Year In August (08 hr(s), 11 min(s), 53 sec(s) ago)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story»

Philippines Inflation Highest In 4 Years (08 hr(s), 13 min(s), 53 sec(s) ago)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...Full Story»

U.S. Private Sector Job Growth Slightly Exceeds Estimates In September (08 hr(s), 17 min(s), 53 sec(s) ago)
(RTTNews) - Private sector employment in the U.S. increased by slightly more than expected in the ...Full Story»

Brazil Services Growth At 16-Month Low (08 hr(s), 21 min(s), 53 sec(s) ago)
(RTTNews) - Brazil's service sector activity expanded at the weakest pace in the current 16-mo ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Trade Data On Tap For Thursday

10/05/2022 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Thursday release August numbers for imports, exports and trade balan ...Full Story>>

Ireland Jobless Rate Remains Stable In September

10/05/2022 - 10:58 AM (RTTNews)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story>>

Brazil Industrial Production Falls As Expected

10/05/2022 - 10:41 AM (RTTNews)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story>>

U.S. Services Index Indicates Slightly Slower Growth In September

10/05/2022 - 10:35 AM (RTTNews)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story>>

U.S. Trade Deficit Narrows To Smallest In Over A Year In August

10/05/2022 - 10:21 AM (RTTNews)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.