14 novembro 2013

Portugal out of technical recession

The Portuguese economy grew in the third quarter, with GDP rising 0.2% over the second quarter, but still remained in negative values ​​when compared with the same period last year (same period), according with the estimate of Gross Domestic Product (GDP) in the third quarter, released today by the Instituto Nacional de Estatística (INE).

Portugal out of technical recession
Portugal out of technical recession


This increase of 0.2% in GDP in the third quarter over the second quarter, comes after a 1.1% growth in the second quarter of the year compared to the first three months of the year.

This shows the output of Portugal's technical recession which lasted two and a half years.

However this conclusion does not solve the problem of unemployment or the pressure reducing wages.

source:
http://www.ine.pt/

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