The Portuguese economy is resisting the prevailing gloom in Europe.
Activity remained strong, with GDP rising by 0.5% in the first quarter, or 1.8% at an annual rate, compared with 1.2% in the euro zone, forecasts Brussels.
Following the trend of 2018, Portugal’s good economic health comes mainly from private consumption fueled by rising wages and employment dynamics. The preliminary data, says the national statistics institute, “reflect a significant acceleration in investment.”
The government deficit has fallen from 7.2% of GDP to 0.5% of GDP since 2014, and the unemployment rate from a peak of 17.9% in early 2013, to about 6% currently.
“The …read more