GDP in Portugal
Portugal - GDP (billions of Euros)
Growth accelerates slightly in the first quarter
The economy gained traction in the first quarter of the year, according to preliminary estimates released by the National Statistical Institute (INE) on 15 May. GDP growth in quarter-on-quarter, seasonally-adjusted terms rose to 0.5%, up from 0.4% in Q4 2018. Economic growth, on an annual basis, also improved marginally in Q1 2019, inching up to 1.8% from 1.7% in the final quarter of last year.
While a detailed breakdown of the result has yet to be released, the flash estimate indicated that domestic demand was in the driver’s seat, making a bigger contribution to GDP growth than in the fourth quarter of last year. A surge in imports in the quarter, mainly of capital goods, suggests that fixed investment growth shot up. Improvements on the domestic front more than compensated for a downturn in the external sector, which dragged more severely on growth, as exports expanded at a relatively subdued pace compared to imports. Consequently, the current account deficit widened more than three-fold in the quarter from the same period last year.
Looking ahead, the economy is set to lose ground this year on a slowdown in exports amid an adverse global backdrop and a loss of steam in tourism activity. Weaker domestic demand dynamics also means a softer expansion going forward. While EU structural funds will aid the rollout of several delayed investment projects, less favorable economic conditions are seen weighing on fixed investment and household consumption.
The Bank of Portugal projects the economy will grow 1.7% in both 2019 and 2020. Met the why particular Consensus Forecast panelists expect GDP to expand 1.7% in 2019, which is unchanged from last month’s forecast, and 1.5% in 2020.
Portugal - GDP (EUR bn) Data
|GDP (EUR bn)||170||173||180||185||193|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||1.16||-1.90 %||May 13|
|Exchange Rate||1.12||0.65 %||May 13|
|Stock Market||5,070||-0.02 %||May 13|
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May 15, 2019
The economy gained traction in the first quarter of the year, according to preliminary estimates released by the National Statistical Institute (INE) on 15 May.
April 30, 2019
Portugal’s industrial sector remained in the doldrums at the end of the first quarter, contracting at a much sharper pace in March compared to February.
Portugal: Consumers turn more optimistic in April, while the overall economic sentiment indicator remains steady
April 29, 2019
Consumers turned more optimistic in April, with the consumer sentiment index rising to minus 7.3 points, up from March’s over two-year low of minus 11.7 points.
March 29, 2019
Portugal’s industrial sector contracted for the fourth consecutive month in March amid a wider global slowdown, although the rate of decline eased somewhat from February.
March 28, 2019
According to the National Statistics Institute’s (INE) survey of consumer sentiment released on 28 March, consumer confidence slid for the sixth month running in March, falling to minus 11.7 points, down from minus 9.9 points in February.