GDP of Portugal for 2 quarter. 2022

According to preliminary estimates, GDP contracted by a seasonally adjusted 0.2% quarter-on-quarter in the second quarter, compared with a 2.5% increase recorded in the first quarter.

Although a full breakdown is not yet available, a preliminary estimate showed that the decline was due to a deduction from domestic demand. On the contrary, the contribution of external demand was positive.

On an annualized basis, economic growth slowed, falling to 6.9% in the second quarter after rising 11.8% in the previous quarter.

FocusEconomics Consensus Forecast experts predict GDP growth of 4.9% in 2022, which is 0.1 percentage points lower than last month’s forecast. In 2023, the economy is expected to grow by 2.4%.