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Construction Resists Covid-19 Led Contraction

1 September 2020 – The investment in construction posted a decline of 11% year-on-year, helping push a historic drop in Portugal’s GDP in the second quarter of the year. Gross fixed capital formation (GFCF) fell by 9%.

Not all components of GFCF suffered equally, however. GFCF in the construction sector rose. According to the INE, “GFCF in construction accelerated from a year-on-year change of 2.5% to 7.5% in the 2nd quarter.” The component faired well compared to other European countries.

Original Story: Dinheiro Vivo

Translation/Summary: Richard D. Turner