Portuguese GDP falls 16.5% year on year and 14.1% in the second quarter

Portuguese GDP falls 16.5% year on year and 14.1% in the second quarter


Portuguese Gross Domestic Product (GDP) fell 16.5% in the second quarter of the year compared to the same period in 2019, due to the economic effects of the covid-19 pandemic. The figures advanced by the Lusa agency were released by the National Statistics Institute (INE).

"Reflecting the economic impact of the pandemic, GDP contracted sharply in real terms in the 2nd quarter of 2020, having decreased 16.5% year on year, after the 2.3% reduction in the previous quarter", you can read based on a quick estimate released today by INE.

In the quarter in which the biggest drop in Portuguese GDP was ever recorded in year-on-year terms, the drop in chain – relative to the first quarter of the year – was 14.1%, also said INE.

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