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How much did the economy grow in the 1st quarter? Economists' forecasts
Gross Domestic Product (GDP) in Portugal increased between 1% and 2.1%, year-on-year, in the first quarter, according to the latest forecasts from several economists.
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Economia Economistas
The National Institute of Statistics (INE) will release the growth of the Portuguese economy in the first three months of the year on Tuesday, after having progressed 2.1% in the fourth quarter of 2023 and 0.7% in chain-linked terms.
The Forum for Competitiveness estimates that the Portuguese economy grew between 1% and 1.3% in the first quarter of the year compared to the same period last year, and between 0.3% and 0.6% in chain-linked terms, according to the economic report released in April.
The CIP/ISEG Barometer estimates a year-on-year growth in GDP of between 1.7% and 2.1% in the first quarter, and between 1.1% and 1.5% in chain-linked terms, due to the increase in production in industry, construction and services.
NECEP - Católica Lisbon Forecasting Lab predicts a GDP growth of 1.2% in the first three months of the year compared to the same period in 2023 and 0.5% in chain-linked terms.
The Portuguese economy grew by 2.3% in the whole of 2023, with the contribution of domestic demand, although at a lower level than in 2022, with a slowdown in private consumption and investment in 2023, according to INE data.
In the 2024-2028 Stability Programme, sent by the Government to parliament, the Ministry of Finance predicts (in a scenario of unchanged policies) a growth in the Portuguese economy of 1.5% this year, in line with that projected in the State Budget for 2024 and one tenth below the macroeconomic forecasts of the Democratic Alliance (AD) in the electoral programme.
Read Also: New EU rules for deficit and debt come into effect on Tuesday (Portuguese version)
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