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December 15, 2016

Portugal: surprise increase in 3Q GDP growth to 0.8% QoQ

The Portuguese economy grew by 0.8% QoQ in 3Q16, considerably more than expected (0.3% QoQ). In contrast with previous quarters, domestic demand contributed negatively to growth (-0.4 pp), while the external sector did so positively, by 1.3 pp, due to the strong increase in exports and an unexpected fall in imports.