Portugal: GDP growth edges down in Q3
According to a preliminary reading, GDP shrank 0.2% on a seasonally adjusted quarter-on-quarter basis in the third quarter, swinging from a 0.1% increase in the second quarter.
On an annual basis, economic growth ebbed to 1.9% in Q3, following the previous quarter’s 2.6% expansion.
Q3’s reading marked the slowest growth since Q1 2021.
The accompanying press release reported that external demand made a negative contribution to the final quarter-on-quarter reading, while domestic demand supported the economy.