Quarterly national accounts
Gross Domestic Product up by 0.5% in volume
- 2nd Quarter 2005
08 September 2005
The year-on-year change in the Portuguese Gross Domestic Product (GDP) was 0.5% in real terms in the second quarter of 2005, improving from the previous period (0.1%). The contribution of net external demand to GDP growth was less unfavourable than in the previous quarter, with a deceleration in imports of goods and services. Domestic demand continued to slacken from the previous quarter, in spite of the effect of early purchases of durable goods in the previous quarter, in anticipation of the forthcoming increase in the VAT standard rate.