Portugal's consumers starting to
spend.
by MEDIA CONTACT RESOURCES, INC.
According to the Bank of Portugal's September 2006
"Monthly Economic Indicators," GDP grew 0.9 percent during the
second quarter 2006. This follows growth of 1.1 percent for the first
quarter 2006. Both figures are comparisons with the same quarter in
2005.
The Bank said that the main driver of growth was strong exports.
The Bank's index of economic activity "maintained an
upward path." The indicator for private consumption also gained.
The Bank said, "Both the quantitative and the qualitative
indicators point to an acceleration of private consumption in the third
quarter of 2006."
The county's consumer confidence indicator also increased. The
Bank cited the European Commission as the source. Portugal's three
month retail sales index increased 4.3 percent in July 2006 when
compared with second quarter 2006 results. The retail sales index is
maintained by Portugal's national statistics office (INE).
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