Summary
The year-on-year change in the Portuguese Gross Domestic Product (GDP) was 0.2% in real terms in the third quarter of 2005, decelerating from the previous period (0.4%). Domestic demand declined by 0.1% in year-on-year terms, rather influenced by private consumption, which decelerated sharply. This behaviour was influenced by early purchases of durable goods in the previous quarter, in anticipation of the forthcoming increase in the VAT standard rate. The contribution of net external demand to GDP growth was positive, with a deceleration in imports of goods and services and an acceleration in exports.