The Portuguese Gross Domestic Product (GDP) increased by 1.5% in volume in the second quarter 2015, compared with the same period of 2014 (1.5% in the first quarter 2015), according to the flash estimate of the Quarterly National Accounts. The positive contribution of domestic demand increased in the second quarter, reflecting the acceleration of investment (mainly due to Changes in Inventories, which moved from a negative contribution in the previous quarter to a positive one) and, to a lesser extent, private consumption. Net external demand registered a significant negative contribution to the GDP year-on-year change rate, with an acceleration of Imports of Goods and Services at a higher pace than Exports of Goods and Services.
Comparing with the previous quarter, GDP increased by 0.4% in real terms in the second quarter (same change rate as in the first quarter), with a positive contribution of domestic demand, while net external demand contributed negatively.