Portuguese economic growth slows to 2.5pct in Q3

Official data indicate that the annual rate of growth in the Portuguese economy was 2.5 percent in the third quarter of this year, Xinhua reports.

The Chinese state-run news agency, citing figures given by the National Statistics Institute of Portugal, says the growth rate slowed from 3 percent in the second quarter and 2.8 percent in the first.

The report quotes the institute as attributing the slowdown to a decline in the value of exports of goods and services.

The official data indicate that the quarterly rate of growth accelerated to 0.5 percent in the third quarter from 0.3 percent in the second.

The Portuguese government has forecast that the economy will grow by 2.6 percent this year, Xinhua says.