The Portuguese economy grew by 1.5% year-on-year in the second quarter, although it remained virtually unchanged, with a growth of 0.1%, compared to the first three months of the year, according to preliminary data from the Portuguese National Institute of Statistics (INE).
The statistical agency explains in a press release that the contribution of domestic demand to the variation compared to the previous quarter became positive (0.5 percentage points) in the second quarter, “We are seeing growth in investments and a slowdown in private consumption”.
The contribution of the a liquid, negative external demand (-0.4 percentage points), was influenced by the growth of imports of goods and services, while Exports of goods and services have slowed.
Specifically, Exports recorded a variation of 0.2% (1.5% in the first quarter), while that of imports between April and June was 1% (-0.5% in the previous period). In the first quarter, GDP increased by 0.8% compared to the previous three months.
On the other hand, the interannual evolutionwho also came from 1.5% In the first quarter, it reflected an acceleration of investment and private consumption in domestic demand, compared to a negative contribution from liquid external demand, with imports of goods and services accelerating more sharply than exports.
