Portugal GDP Growth Improves To 1.9%

(RTTNews) - Portugal's economy expanded at a faster pace in the third quarter, flash data from Statistics Portugal showed on Wednesday.

Gross domestic product, or GDP, advanced 1.9 percent year-on-year in the September quarter, faster than the 1.6 percent rise in the second quarter. Further, this was the biggest growth since the second quarter of 2023. 

Domestic demand contributed positively to the yearly growth amid increased private consumption. Meanwhile, net external demand was not favorable, as imports grew faster than exports.

On a quarterly basis, the economy expanded at a stable pace by 0.2 percent in the third quarter.

Separate official data showed that industrial production recovered strongly by 2.7 percent versus a 1.5 percent fall in the prior month. Manufacturing output alone showed an expansion of 3.3 percent.