2022 Edition 46 MONTHLY STATISTICAL BULLETIN External balance of the Portuguese economy decreased to -0.8% of GDP In the 2nd quarter of 20221: • The Portuguese economy recorded a need for financing, which increased from 0.5% of Gross Domestic Product (GDP) in the previous quarter, to 0.8%; The worsening of the economy balance reflected the reduction in the balance of all domestic sectors of the economy, with the exception of General Government (GG) sector; These year-on-year developments partly reflect a baseline effect, as in the 1st quarter of 2021 a number of measures to combat the pandemic were in place that conditioned economic activity; • Nominal GDP increased by 2.8% compared to the previous quarter and 10.0% vis-à-vis the same quarter of the previous year; • Gross National Income (GNI) increased by 2.7% compared to the previous quarter and by 10.0% compared to the same quarter in 2021; • Gross Disposable Income (GDI) grew by 2.3% from the previous quarter and 9.5% compared to the year-on-year quarter of 2021; • With regard to Households: » GDI increased by 1.2% compared to the previous quarter, with growths of 1.9% and 1.4% in earnings and Gross Value Added, respectively; » Final consumption expenditure increased by 2.7% (4.0% in the previous quarter), leading to a reduction in the saving rate to 5.9% (7.3% in the previous quarter), which, together with the increase in investment, led to the reduction of financing capacity by 1.0 p.p., to 0.4% of GDP; 1 Unless otherwise stated, to eliminate fluctuations of a seasonal nature and to reduce irregularity to capture the trend behaviour of the series under consideration, the information presented refers to the year ended in the reference quarter. The comparison between consecutive quarters generally uses quarter-on-quarter rates of change between the year ended in the quarter in question and the year ended in the previous quarter. Non-Financial Corpora�ons Financial Corpora�ons General Government Households and NPISH Total Economy - 2.3% 1.5% - 2.8% 4.3% 0.7% - 2.8% 1.5% - 1.5% 2.4% - 0.4% -5.0% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 4th Quarter of 2021 1st Quarter of 2022 Net Lending(+) /Borrowing(-) by institutional sector (in % of GDP, accumulated sum of 4 quarters)
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