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Macroeconomic outlook report: Portugal

Fourth quarter of 2019

During the fourth quarter of 2019, Portugal's GDP increased into a year-over-year growth rate of 2.24%. With regard to the labor market, the unemployment rate increased during the quarter to 6.63%, while the year-over-year growth rate of employment reduced its growth rate with respect to the previous quarter, down to 0.26%. The euro remained constant against the dollar, with an exchange rate of 1.11 $/€. Lastly, inflation stood at 0.25%.

Macroeconomic overview

    • During the fourth quarter of the year, the Portuguese economy increased its growth with respect to the previous quarter up to a rate of 2.24%. This performance was explained by the acceleration of the external sector.
    • In the labor market, the unemployment rate increased by 0.16 p.p. up to 6.63%, while the pace of employment creation stood at 0.26% year-over-year, 0.40 p.p. lower than the growth rate recorded in 3Q19.
    • The euro remained stable against the US dollar standing at an exchange rate of 1.11 $/€.
    • Inflation in Portugal stood at 0.25% in the fourth quarter of 2019, 0.43 p.p. higher than in the previous quarter.

    For more information access the executive document in pdf (avalaible in Spanish and Portuguese).

    © GMS Management Solutions, S.L., 2020. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.