|Chennai||Rs. 24020.00 (-0.17%)|
|Mumbai||Rs. 25020.00 (0.28%)|
|Delhi||Rs. 24450.00 (0%)|
|Kolkata||Rs. 24600.00 (-0.32%)|
|Kerala||Rs. 24050.00 (0%)|
|Bangalore||Rs. 24160.00 (-0.17%)|
|Hyderabad||Rs. 24030.00 (-0.12%)|
Portugal's economy shrank by 3.5 percent year-on-year in the third quarter and decreased by 0.9 percent compared to the previous three months.
The results are worse than forecast and were due to a less marked reduction in the rate of goods and services imported and a slowdown in exports and investments.
According to data released Friday, Portugal's gross domestic product fell 3.5 instead of the predicted 3.4 percent, year-on-year.
On Nov. 27, parliament approved unprecedented tax increases despite a broad public outcry and concerns that the latest austerity package will prolong the bailed-out country's recession.
Portugal, like Greece, Ireland and Cyprus, needed a hefty financial rescue to spare it from bankruptcy, taking a €78 billion ($101 billion) bailout 18 months ago.