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GDP grew 0.4% in the first three months of the year, the same as happened in late 2014, which put the annual change at the highest level since the last quarter of 2013.

The Portuguese economy has confirmed the first three months of this year the recovery trend that has shown in the last two years. In the first quarter 2015 kept the end of the growth rate of last year, which allowed him to put the annual GDP growth at the highest level since the fourth quarter of 2013.

According to the flash estimate of national accounts published on Wednesday by the National Statistics Institute (INE), the Portuguese GDP grew 0.4% during the first three months of this year. This had already been the pace recorded in the last quarter 2014.

Over the same period last year, product variation reached 1.4%. This figure is substantially higher than the 0.6% recorded in the fourth quarter of 2014. The acceleration recorded in this indicator has yet a lot to do with the fact that the same period (the first in 2014) have been a period of growth strongly negative in the Portuguese economy (-0.5%) which was followed by a very high growth in the fourth quarter of 2013 (1%). This means that, at a time when the growth rate of the economy seems to have stabilized in positive values, there have been significant changes in recent quarters in the annual variation. In the third quarter of 2014, the indicator was 1.2%, after falling sharply to 0.6% in the fourth quarter to turn now to rise to 1.4%, matching the post-crisis maximum of 1.4% which had been recorded in the fourth quarter of 2013.

Given that the effects based unusual disappear from the next quarter, it is expected that the Portuguese economy stabilizes now in annual growth rates of over 1%. The forecast of the Government for the full year is for growth of 1.6%, a figure that seems to be achievable at this stage.

In addition to the recovery trend observed since the end of 2013, to benefit the Portuguese economy are now also factors such as the depreciation of the euro, the decline in oil prices and the incentives launched by the European Central Bank. In the first quarter of the year, the euro area economy also grew 0.4%, which can be an aid to national exports.

The INE does not have this flash estimate values ​​for the different components of GDP. However, points out that the acceleration in the annual GDP variation is "to increase the contribution of net external demand as a result of the slowdown in imports of goods and services and the acceleration of exports."

However, when looking at GDP growth compared to the previous quarter, the INE said that the results "reflected the positive contribution of domestic demand."

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GDP grew 0.4% in the first three months of the year, the same as happened in late 2014, which put the annual change at the highest level since the last quarter of 2013.

The Portuguese economy has confirmed the first three months of this year the recovery trend that has shown in the last two years. In the first quarter 2015 kept the end of the growth rate of last year, which allowed him to put the annual GDP growth at the highest level since the fourth quarter of 2013.

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