LISBON: Portugal's economy jumped back from a deep slump in the second quarter with gross domestic product rising 1.1 per cent after dipping 0.4 per cent in the first quarter, data showed on Wednesday.
The rise in quarterly growth marked the first expansion in 10 quarters.
The National Statistics Institute also said the economy contracted 2.0 per cent in the quarter when compared with the same period a year earlier.
In the first quarter the economy shrank a revised 4.1 per cent from a year earlier.
Analysts surveyed by Reuters had expected the economy to expand by an average 0.5 per cent in the second quarter from the previous quarter.
INE said stronger economic activity in the period was due to higher exports and an easing of previous contraction in investment.
indiatimes.com
The rise in quarterly growth marked the first expansion in 10 quarters.
The National Statistics Institute also said the economy contracted 2.0 per cent in the quarter when compared with the same period a year earlier.
In the first quarter the economy shrank a revised 4.1 per cent from a year earlier.
Analysts surveyed by Reuters had expected the economy to expand by an average 0.5 per cent in the second quarter from the previous quarter.
INE said stronger economic activity in the period was due to higher exports and an easing of previous contraction in investment.
indiatimes.com
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