Financial News: Portugal Q2 GDP Growth Improves To 2.5%; Consumer

Portugal Q2 GDP Growth Improves To 2.5%; Consumer Confidence Rises

07/30/2026 - 10:50:00 (RTTNews)

(RTTNews) - Portugal's economy expanded at a slightly faster pace in the second quarter on the back of private consumption, while consumers remained less pessimistic in July, separate reports from Statistics Portugal showed on Thursday.

Gross domestic product, or GDP, advanced 2.5 percent year-on-year in the June quarter, faster than the 2.4 percent rise in the March quarter, flash data said.

On the expenditure side, the positive contribution of domestic demand to the annual rate of GDP decreased due to the slowdown of investment, while private consumption accelerated. External demand contributed negatively as exports of goods and services accelerated more intensely than imports of goods and services.

Compared to the first quarter of 2026, GDP increased 0.8 percent in the June quarter after rising 0.1 percent in the previous month.

Households in Portugal remained less pessimistic in July, with the consumer confidence index rising to -22.6 in July from -25.9 in June. The improvement in confidence is driven by positive contributions from perspectives on the future evolution of the general economic situation, the financial situation of households, and the undertaking of significant purchases by families.

Separate official data showed that the annual growth in retail sales accelerated to 3.0 percent from 2.8 percent in May. During the second quarter, retail sales grew 2.9 percent from last year.

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