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Portugal's economy picks up in Q2
(MENAFN) According to the National Institute of Statistics (INE), Portugal's economy returned to growth in the second-quarter period, edging up 0.3 percent, The Peninsula Qatar reported.
The main driver of recovery is an increase in exports, which grew 1.6 percent in the second quarter. As a result, foreign demand grew 0.8 percent in the period after being down 1.9 percent in the first quarter.
On an annual basis, Portuguese GDP grew 0.9 percent in the second quarter following a 1.0 percent increase in the first three months of 2014 compared to the previous year.
In the first three months of 2014, Portugal's economy shrank 0.5 percent, slightly better than the 0.6 percent contraction the INE had reported initially, while exports were up 1.3 percent in July from a year.
The main driver of recovery is an increase in exports, which grew 1.6 percent in the second quarter. As a result, foreign demand grew 0.8 percent in the period after being down 1.9 percent in the first quarter.
On an annual basis, Portuguese GDP grew 0.9 percent in the second quarter following a 1.0 percent increase in the first three months of 2014 compared to the previous year.
In the first three months of 2014, Portugal's economy shrank 0.5 percent, slightly better than the 0.6 percent contraction the INE had reported initially, while exports were up 1.3 percent in July from a year.
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