Portuguese economy recovered 13.2% in the third quarter

By TPN/Lusa, in News · 05-11-2020 08:10:00 · 0 Comments

GDP shot up 13.2 percent in the third quarter of this year, compared to the previous three months, according to the National Statistics Institute (INE).

Part of the economic activity that stopped in the months of confinement resurfaced between June and September. However, the GDP remains 5.8 percent lower than it was during the same period last year.

There was a strong recovery in exports: "The contribution of external demand went from very negative in the previous quarter to positive, with a growth in exports of consumer goods", explains INE.

"The less intense reduction in GDP in the third quarter occurred in the context of a progressive reopening of economic activity, which followed the measures to contain the spread of covid-19 which resulted in a negative economic impact during the first two months of the second quarter", according to INE.

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