Portugal's recession deepens
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Published on Dec 9, 2011 by Euronews
http://www.euronews.net/ Portugal's economy is in an even worse state than was previously thought.
The latest revised statistics show GDP shrank by 0.6 percent between July and September from the previous quarter.
It was dragged deeper into recession by austerity and financing problems amid the debt crisis while export growth slowed.
The National Statistics Institute's (INE) second reading of GDP showed a sharper quarter-on-quarter contraction than the flash estimate of minus 0.4 percent.
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3 years and counting
xpander33 2 months ago