INE confirms: consumption and investment throw economy to 16.3% recession


"Almost tourism disruption" foreigners too, influenced on the second quarter's GDP result, a historic contraction in the economy.

There was no component of gross domestic product to escape the impact of the covid-19 pandemic in the second quarter of the year. The National Statistics Institute (INE) confirmed this monday, August 31, a historical recession of 16.3% between April and June.

Private consumption and investment were the components that most contributed to the negative performance of the economy in the second quarter. "The strong contraction in economic activity reflected the impact of the covid-19 pandemic that was felt most intensely in the first two months of the second quarter", begins by indicating the statistics office.