The Portuguese Gross Domestic Product (GDP) increased by 2.5% in volume in the third quarter 2017, compared with the same period of 2016 (3.0% in the previous quarter). The positive contribution of domestic demand increased, reflecting the acceleration of private consumption, while Investment decelerated. Net external demand registered a negative contribution, conversely to what was observed in the former quarter, due to a less pronounced increase of Exports of Goods and Services and the acceleration of Imports of Goods and Services.
In comparison with the second quarter of 2017, GDP increased 0.5% in real terms, 0.2 percentage points more than in the previous quarter. The contribution of net external demand to quarter-on-quarter GDP change rate became positive, as a result of the higher increase in Exports of Goods and Services than in Imports of Goods and Services. The domestic demand contribution diminished slightly due to the reduction of Investment, whereas private consumption increased (negative change rate in the previous quarter).