Gross domestic product (GDP) rose 2.5% in the first quarter year-over-year and 1.6% year-on-year, according to a quick estimate from the National Institute of Statistics (INE) released this Friday.
“Gross domestic product (GDP) in real terms recorded a 2.5% year-on-year change in the first quarter of 2023 (3.2% in the previous quarter),” the statistical agency said in a 30-day snapshot. Accounts Quarterly Nationals estimate.
According to INE, “The contribution of domestic demand to GDP change on an annualized basis remained positive in the first quarter, but lower than in the previous quarter, as a result of a slowdown in private consumption and reduced investment, driven by a negative contribution from changes in stocks.”
The period under review also saw “acceleration of exports of goods and services and slowdown of imports of goods and services.”
Author: Portuguese
Source: CM Jornal
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