Portuguese Economy Contracts for a Sixth Straight Quarter
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Portugal’s economy shrank for a sixth quarter in the three months through March as the government and consumers reduced spending.
Gross domestic product declined 0.1 percent from the fourth quarter, when it fell 1.3 percent, the Lisbon-based National Statistics Institute said in an e-mailed statement today. That matches a preliminary report on May 15. GDP dropped 2.2 percent from a year earlier.