Summary
The Portuguese Gross Domestic Product (GDP) increased by 0.7% in volume in the fourth quarter 2014, compared with the same period of 2013 (1.1% in the third quarter 2014), according to the flash estimate of the Quarterly National Accounts. This evolution was determined by a less intense positive contribution of domestic demand compared with the observed in the third quarter, reflecting the deceleration of private consumption. Net External Demand presented a slightly less negative contribution to the GDP year-on-year change rate, driven by the acceleration of Exports of Goods and Services.
Comparing with the previous quarter GDP increased by 0.5% in real terms (0.3% in the third quarter), due to the positive Net External Demand contribution.
In 2014 GDP recorded a real growth rate of 0.9%, following a decrease of 1.4% in 2013, as a result of the upturn of Domestic Demand.