Arab Today, arab today portugal\s economy contracted 15 in 2011
Last Updated : GMT 08:53:10
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Portugal\'s economy contracted 1.5% in 2011

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Arab Today, arab today Portugal\'s economy contracted 1.5% in 2011

Lisbon - AFP

The Portuguese economy contracted by 1.5 percent in 2011 and 1.3 percent from the previous quarter in the first three months of 2012, data from the INE statistics institute said on Tuesday. The drop in gross domestic product was slightly less steep than a 1.6 percent contraction for 2011 forecast by the Portuguese central bank. INE said Portugal contracted by 2.7 percent in the fourth quarter last year from the same quarter in 2010.  

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