Portugal Q2 Growth Unrevised

(RTTNews) - Portugal's economy expanded in the second quarter at the same rate as estimated earlier, mainly driven by domestic demand, final figures from Statistics Portugal showed Monday.

Gross domestic product rose 0.4 percent sequentially in the second quarter, the same pace of growth in the previous two quarters.

The Portuguese economy grew for the fifth consecutive quarter after contracting by 0.5 percent in the first quarter of 2014.

Both the quarterly and annual growth figures were unrevised from the preliminary estimates.

In quarterly terms, the domestic demand contribution was positive, mainly due to the growth of private consumption, while the net external demand contribution was negative, the agency said.

Domestic demand contributed 0.8 percentage points, which was half of the 1.6 percentage points addition in the previous quarter. Meanwhile, net external demand contributed negatively by 0.4 percentage points after a -1.3 percentage points negative contribution in the previous three months.

On a year-on-year basis, GDP rose 1.5 percent in the second quarter, the same rate of increase in the previous three months.