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Portugal Re-Enters Recession After Government Cuts Spending, Raises Taxes

Portugal Re-Enters Recession After Government Cuts Spending, Raises Taxes
Gross domestic product dropped 0.7 percent from the fourth quarter, when it fell a revised 0.6 percent, the Lisbon-based National Statistics Institute said in a preliminary report today. Economists expected a decline of 0.3 percent, the median of three estimates in a Bloomberg survey showed.
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