Portugal’s Gross Domestic Product (GDP) has shown no change in growth rate, remaining at 1.5% for the second quarter of 2024, according to the latest data updated on August 30, 2024. This stagnation mirrors the GDP growth rate from the same quarter last year.The year-over-year comparison, which evaluates the economic change from the same period in the previous year, indicates that Portugal’s economy has neither accelerated nor decelerated, maintaining a steady pace. This consistency suggests a period of stability for the Portuguese economy, though it highlights the challenge of achieving higher growth rates in a potentially constrained global economic environment.While the steady 1.5% growth might be seen as a positive indicator of resilience in certain economic conditions, it also underscores the necessity for policy measures that could potentially stimulate further economic expansion and strengthen Portugal’s economic performance in the coming quarters.The material has been provided by InstaForex Company – www.instaforex.com
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