Quarterly National Accounts - Flash Estimate
Gross Domestic Product down by 0.9% in real terms
- 2nd Quarter 2011
16 August 2011
The Flash Estimate of the Portuguese Gross Domestic Product (GDP) points to a year on year change rate of -0.9% in volume in the 2nd quarter 2011 (change rate of -0.6% in the 1st quarter 2011). Comparing with the previous quarter, the Portuguese GDP remained unchanged.
The year on year GDP reduction in the 2nd quarter 2011 was driven by the strong decrease in Investment and Final Consumption Expenditures of Households, mainly the durable goods component. Imports of Goods and Services also diminished, whilst Exports of Goods and Services maintained a strong year on year growth rate.