Portugal was the country that most grew in the Euro Zone in the third quarter – Jornal de Negócios – Portugal

The Portuguese economy are not only surprised with the performance in the third quarter as it managed to achieve variation in chain the most expressive among the countries for which data are available in this period.

The gross domestic product (GDP) has advanced 1.6% in the third quarter of this year compared to the same period of 2015, showed the data published by the INE. Chain, the economy grew by 0.8%.

according To the Eurostat, the growth of 0.8% is the highest among the countries for which data are available. The variation in the chain of the Euro Area’s GDP in the third quarter is not yet known in countries such as Ireland and Luxembourg.

Taking into account all the countries of the European Union, only Bulgaria achieved a performance equal to that of Portugal, with a growth in the chain of the GDP of 0.8%. Taking into account the Euro Zone countries, Spain, the Netherlands and Slovakia appear near Portugal, with a growth of 0.7%.

In the variation year-onyear (third quarter against the same period last year), there are several countries in the Euro Zone with a GDP growth more expressive. It is the case of Germany (1.7%), Spain (3.2 per cent) and the Netherlands (2,4%).

Exports boost GDP Portugal

According to the National Institute of Statistics (INE), the good result of the Portuguese economy was mainly due to a stronger pickup in exports than in imports. In addition, domestic demand also gave a more positive contribution to the GDP, a reflection of more consumption of non-durable goods by households.

The performance of the national economy beat estimates of analysts. The most optimistic pointed to an increase of 1.3%, while the most pessimistic expected a variation of only 1%.

Compared to the previous quarter – the chain – the GDP advanced by 0.8%. A significant acceleration compared to the first six months of the year, when it grew 0.3% in each of these two quarters.

“Compared with the second quarter, the GDP increased by 0.8% in real terms (0.3% in the previous quarter),” writes the INE. “The contribution of net external demand was positive, reflecting the strong increase in exports of goods and services, while domestic demand recorded a negative contribution.”

the Euro-Zone grows 0.3% in

After several quarters of divergence, the Portuguese economy managed to grow above the Euro Zone in the third quarter of the variation in the chain, equaling the performance in the comparison year-on-year.

The gross domestic product (GDP) in the Euro Area increased by 0.3% in the third quarter when compared with the previous quarter, revealed this Tuesday, 15 November, Eurostat. This had been already the initial reading and was in line with estimates of analysts surveyed by Bloomberg. Already in the European Union, the growth was 0.4%.

In homologous terms, the GDP of the Euro Zone grew by 1.6%, identical to that of the second quarter, and the European Union expanded by 1.8%.

in Addition to Portugal, the surprise was also the growth of Greece, whose GDP increased by 0.5%, accelerating the pace of growth, such as had already been revealed on Monday.

But the highlights are France, which has managed a return to growth in the economy (0.2 percent), after having observed a contraction of 0.1% in the second quarter, and Italy, which stagnated in the second quarter and that growth has returned to 0.3% in the three months following.

in Addition to these countries, only Austria and Finland recorded improvements in the economic chain, yet no European Union country has recorded any economic downturn.