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Gross Domestic Product year-on-year rate of change was 1.9%
Quarterly national accounts
Gross Domestic Product year-on-year rate of change was 1.9% - 3rd Quarter 2019
29 November 2019


In the third quarter 2019, the Portuguese Gross Domestic Product (GDP) registered a year-on-year rate of growth of 1.9% in volume (same rate as in the previous quarter). The contribution of domestic demand to GDP year-on-year rate of change remained unchanged at 3.2 percentage points, as private consumption accelerated and Investment grew at a slower pace. Net external demand presented a contribution of -1.3 percentage points, similarly to the previous quarter, with the acceleration of both Imports and Exports of Goods and Services. In nominal terms, GDP increased by 3.4%, 0.2 percentage points more than in the previous quarter, reflecting the effect of the improvement in terms of trade (in the second quarter there was a slight loss in terms of trade) on the GDP deflator.
In comparison with the second quarter of 2019, GDP increased by 0.3% in real terms (0.6% in the precedent quarter), as a result of the 0.9 percentage points contribution of domestic demand to GDP quarter-on-quarter rate of change (0.6 percentage points in the previous quarter), while net external demand recorded a contribution of -0.6 percentage points (null contribution in the second quarter).

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