GDP grew by 0.4% in the third quarter of the year, while the unemployment rate fell to 6.1% in October.
Unemployment fell to 6.1% in October from 6.3% in October 2021, unchanged from the previous month, according to preliminary data released today by the National Statistical Institute (INE).
According to INE’s Monthly Employment and Unemployment Estimates, in October “the unemployment rate was 6.1%”, which is identical to the value of September and lower than in the same month of 2021 by 0.2 percentage points.
In October 2022, the active population (5,197.6 thousand people) decreased by 0.2% compared to the previous month and increased by 0.5% compared to October 2021, according to INE estimates.
Portugal’s gross domestic product (GDP) increased by 4.9% in the third quarter compared to the same period in 2021 and grew by 0.4% compared to the second quarter, the National Institute of Statistics (INE) confirmed today.
The figures released today confirm the quick estimate released by INE on October 31, which indicates a slowdown in GDP growth to 4.9% in the period from July to September on an annualized basis (7.4% in the previous quarter) and an increase of 0.4 % on-chain, up 0.3 percentage points from the previous quarter.
According to preliminary estimates by the statistical institute Quarterly National Accounts, “the contribution of domestic demand to the annual change in GDP decreased in the third quarter from 4.0 percentage points in the second quarter to 2.9 percentage points, with a slightly less accentuated increase in private consumption and a decrease in investment, determined by the behavior of stock variation”.
Author: Portuguese
Source: CM Jornal
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