GDP in Portugal “goes up again”!

INE, Portugal’s statistics institute, is scrabbling to catch up as the country’s GDP does exactly what INE said it wouldn’t.

Only two weeks ago, the figures’ watchdog revealed GDP had maintained 2.8% growth during the second three months of 2017.

But now it has revised its findings to 2.9% , “approaching expectation of economists” who forecast overall growth of 3% this year – and actually setting an “almost 17-year” record.

The magic ingredient has been ‘a strong acceleration in investment’, reports negocios online, as well as growth in ‘internal consumption’, particular in the purchase of new vehicles.

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