Portugal economy grew 2.7pc in 2017, boosted by investment

LISBON: Portugal posted economic growth in the fourth quarter of 0.7 percent, up from 0.6 percent in the previous quarter, while the economy grew at its fastest clip in 17 years for all of 2017, boosted by investment, official data showed on Wednesday.

The National Statistics Institute (INE) said in its second reading of fourth-quarter gross domestic product that the economy grew 2.4 percent year-on-year, the same as in the third quarter, bringing full-year expansion to 2.7 percent.

Yearly growth was propelled by domestic demand, which rose 2.9 percent and was boosted by a 8.4 percent jump in investment.