The Portuguese Gross Domestic Product (GDP) increased by 0.8% in volume in the first quarter 2016, compared with the same period of 2015 (1.3% in the fourth quarter 2015). Net external demand registered a more negative contribution to the GDP year-on-year change rate than in the previous quarter, reflecting the deceleration of Exports of Goods and Services. The domestic demand maintained a positive contribution, close to that observed in the previous quarter, with a more intense growth of private consumption, while investment decelerated markedly, reflecting the reduction of Gross Fixed Capital Formation.
Comparing with the fourth quarter, GDP registered a change rate of 0.1% in real terms in the first quarter (0.2% in the fourth quarter). The net external demand contributed negatively, as a result of the reduction of Exports of Goods and Services, whilst the contribution of domestic demand was positive.