ISEG slightly revised its estimate of GDP growth in 2019, now pointing to a 1.9% expansion.
"For the full year 2019, taking into account first half performance, further developments in sector indicators and the economic context in the EU, GDP growth is revised to between 1.8% and 2.0%", refers to the Economic Synthesis published by ISEG this Monday, 30 September.
In the June summary, ISEG pointed to growth between 1.6% and 2% (1.8% average point), so the new estimate represents a one-tenth improvement.
Concerning the third quarter, ISEG notes that the data are "very incomplete" and therefore "do not allow us to go further than to say that, as a whole, there are no signs of large differences from the previous quarter", so " most likely a growth of the same order of magnitude. "
In the second quarter Portugal's GDP grew by 1.9%, slowing from the 2.1% growth registered in the first three months of the year. In the October synthesis, ISEG will move forward with a growth estimate for the third quarter.
Over the third quarter, ISEG notes that "while industrial production declines and turnover in services slows, retail turnover has maintained a high and relatively stable growth rate and cement consumption has intensified. your growth ".
These developments suggest "similar growth to previous domestic demand growth" while net external demand "also showed no significant differences in July".
. (tagsToTranslate) ISEG (t) GDP