The Portuguese Gross Domestic Product (GDP) increased by 1.8% in volume in the second quarter of 2019 (same rate as in the previous quarter). The contribution of domestic demand to the year-on-year GDP rate of change decreased, reflecting the deceleration of final consumption expenditure and, in larger extent, of Investment. Net external demand’s contribution was less negative than in the last quarter, as Imports of Goods and Services decelerated more than Exports of Goods and Services.
When compared with the second quarter of 2019, GDP increased by 0.5% in real terms, maintaining the growth rate recorded in the previous quarter. The contribution of domestic demand to quarter on quarter GDP rate of change was negative, after being positive in the first quarter. In turn, the contribution of net external demand was positive, after being negative in the previous quarter.