LISBON: Portugal’s economy grew 0.8 percent in July-September from the preceding three-month period driven by exports, the National Statistics Institute said in its second reading of quarterly gross domestic product, confirming an acceleration. The institute said that compared to the same period of 2015, the economy expanded 1.6 percent, also in line with its flash estimate reported initially on Nov. 15. The quarter-on-quarter change is much higher than 0.3 percent growth registered in the second quarter.
Domestic demand ebbed 0.4 percent from the previous quarter, as did imports, but exports rose 2.5 percent, with net external demand contributing 1.3 percentage points to quarterly growth after a negative contribution in the previous quarter. In year-on-year comparison, however, domestic demand rose 0.9 percent and had a strong 0.9 point contribution to growth. The Socialist government expects the economy to grow 1.2 percent this year in a deceleration from last year’s expansion of 1.6 percent, but projects growth of 1.5 percent in 2017.
