GROSS DOMESTIC Product (GDP) in Portugal in the third quarter of 2008 remains unchanged according to the national institute of statistics.

The figures, released on November 14, show that Portugal has outperformed the euro zone and that it is unlikely the Portuguese economy will slip into a technical recession this year.

Teresa Gil Pinheiro of BPI bank said: “We may have stagnation but recession may be avoided.”

Although the figures show resilience in the Portuguese economy, commentators continue to warn that economic prospects will remain weak as the global crisis continues.