FX.co ★ Portuguese Growth Cools as Q4 2025 GDP Slows to 1.9% Year-on-Year

Portugal’s economic growth eased in the fourth quarter of 2025, with GDP expanding 1.9% year-on-year, down from 2.4% in the third quarter of 2025, according to data updated on 30 January 2026.

The figures, measured on a year-over-year basis, show that the Portuguese economy lost some momentum at the end of 2025. The previous reading of 2.4% in the third quarter reflected growth compared with the same quarter a year earlier, while the latest 1.9% figure indicates a softer pace of expansion against the fourth quarter of the prior year.

The slowdown in the annual growth rate suggests that while Portugal remains on a growth path, the pace of activity moderated as 2025 drew to a close, potentially signaling a more cautious backdrop heading into 2026 for policymakers and investors monitoring the country’s economic trajectory.