6 percent cheap Canada Goose in the first quarter of this year

6 percent cheap Canada Goose in the first quarter of this year

Portugal slips deeper into recession in Q3

Q/Q contraction revised to 0.6 pct uk canada goose from 0.4 pct

Recession seen deepening as more austerity coming

LISBON, Dec 9 (Reuters) Portugal economy shrank a greater than initially uk canada goose outlet reported 0.6 percent in the third quarter, slipping deeper into recession as austerity Canada Goose Outlet and financing problems weighed amid the canada goose factory sale debt crisis while export canada goose coats growth slowed.

Austerity measures under Canada Goose sale Portugal 78 billion euro bailout agreed with the canada goose coats on sale European Union and the IMF in May are expected to lead to the deepest recession since the country returned to democracy in 1974. The government projects the Canada Goose Coats On Sale economy will contract 1.6 Canada Goose online percent this year and 3 percent in 2012.

The National Statistics Institute (INE) second reading of GDP on Friday showed a sharper quarter on canada goose uk black friday quarter contraction than the flash estimate of minus 0.4 percent.

GDP Canada Goose Jackets contracted by 0.2 percent in our web page canada goose outlet https://www.arconserve.ca the second quarter and 0.6 percent cheap Canada Goose in the first quarter of this year, INE said.

reduction of economic canada goose uk shop activity is still more of a reflection of difficulties with the financing of the economy rather than the impact of austerity. which means the recession canada goose clearance sale will continue to worsen in the quarters to come when austerity measures fully kick in, said Filipe Garcia, head of Informacao de Mercados Financeiros economic consultants.

INE said that year on year cheap canada goose uk GDP fell 1.7 percent, the same as in its flash estimate, after a contraction of buy canada goose jacket cheap 1 percent in the previous quarter.

Parliament approved last week a tough 2012 budget that suspends holiday and year end bonuses for civil servants and hikes many taxes canada goose further.

The INE said internal demand, which has already suffered from canada goose black friday sale higher taxes and pay cuts imposed this year, dropped canada goose clearance 0.6 percent from the previous quarter as both investment and public consumption ebbed.

Compared with a year ago, internal demand fell buy canada goose jacket a steep 4.6 percent, with private consumption down 3.3 percent and investment slumping by 13.7 percent.

Exports rose just 2.7 percent from the previous quarter, their positive impact neutralised canada goose uk outlet by a 2.4 percent increase in imports. Export growth also decelerated to 6.5 percent year on year from 8.7 percent in the second quarter.

Nevertheless, another batch of INE data on Friday showed exports growing canadian goose jacket faster in the three months through October than in the third quarter, with Portugal trade gap falling a steep canada goose store 30 percent from a year earlier.

The government is hoping a recovery may begin by late 2012 mainly on exports, although many economists warn Europe economic slowdown would make it much more difficult for Portugal to return to growth Canada Goose Parka and meet its 2012 budget deficit target under the bailout. It has to slash the gap Canada Goose Online to 4.5 percent next year from this year projected 5.9 percent.

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