The Portuguese economy contracted at a slower pace in the first quarter as estimated earlier, and reached near-stagnation levels, final data released by Statistical Portugal showed Friday.
Gross domestic product (GDP) dropped a seasonally adjusted 0.1 percent sequentially in the first quarter, in line with the preliminary estimates. The rate of decline was notably slower than the 1.3 percent fall recorded in the fourth quarter.
Year-on-year, the economy shrank 2.2 percent during the three-month period, as recorded in the flash estimates. In the fourth quarter, GDP decreased 2.9 percent year-on-year.
The slowdown in contraction was driven by a less negative contribution of domestic demand, the agency said, data showed.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.