Bank of Portugal sees unprecedented Q2 GDP slideChristian Fernsby ▼ | June 17, 2020
Portugal’s economy could tank an unprecedented 15% in the second quarter due to the impact of the coronavirus, bringing the contraction this year to 9.5% the steepest drop in nearly a century, the Bank of Portugal said on Tuesday.
GDP Portugal street
Topics: Portugal GDP
It said the impact of the pandemic and subsequent lockdowns in Portugal and abroad would be the heaviest in the second quarter, and although there was still a lot of uncertainty about the setting, the quarter-on-quarter slide “could reach a value of around 15% ... without a historic precedent”. ■