Economic Weekly: Domestic demand falls exports ease

Last week, markets were focused on the ECB’s decision to introduce a new sovereign bond buying programe. The ECB also revised down its GDP growth forecasts. In Portugal, GDP fell 1.2% qoq and 3.3% yoy in the second quarter. Investment had a strong negative contribution and export growth eased. In July, the unemployment rate remained stable at 15.7% in Portugal, its historical high.

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