Portugal: Economy picks up in Q4 2018
According to a flash GDP estimate released by the National Statistical Institute (INE) on 14 February, the economy picked up in the final quarter of last year, with economic growth in quarter-on-quarter, seasonally-adjusted terms inching up to 0.4% from a 0.3% expansion in the third quarter. Economic growth, on an annual basis, continued to moderate, however, slipping to 1.7% in Q4 from 2.1% in Q3. Overall, the economy lost pace in 2018, with GDP growth falling to 2.1% in 2018 from 2.8% in 2017.
While a comprehensive breakdown of the quarter-on-quarter result will be released on 28 February, the preliminary estimate indicated that Q4’s upturn was likely owing to a less negative contribution by the external sector. On the flip side, the pace of expansion in domestic demand likely moderated.