Economy expected to grow between 14.5% and 15.5%

By TPN/Lusa, In Business, Economy · 11 Jun 2021, 01:00 · 0 Comments
Economy expected to grow between 14.5% and 15.5%

A report from the Lisbon School of Economics and Management (ISEG) has stated that the economy in Portugal is predicted to grow between 14.5 percent and 15.5 percent in the second quarter.

“Even with this growth, the second quarter will still be between 3.4 percent and 4.3 percent below the year-on-year GDP of 2019,” says the report which highlights that this is in line with the current economic trends.

The Global Activity Trend Indicator from ISEG rose significantly in March and April “with the easing of lockdown, the reopening of businesses and above all due to the base effect of the year-on-year comparison, since the second quarter of 2020 was the worst hit by the drop in economic activity caused by the anti-covid sanitary measures”.

The data for May reveal that these trends have continued in May and are expected to continue in June.

The strong year-on-year GDP growth is expected to continue throughout the second quarter of the year but the pace of this growth is still in question.

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