The Portuguese GDP stalled in the first quarter of 2026, holding the 0.9% expansion from the earlier period, to reflect the strong impact of the war in the Middle East in the Portuguese economy, according to a flash estimate. There was a negative contribution in net external demand, aligned with the surging costs of oil that Portuguese refineries import and supply pressures on European natural gas and petroleum gas. Household consumption was also lower on the squeeze in domestic purchasing power. On the other hand, investment was higher in the period. From the previous year, the GDP expanded by 2.3%.