Regarding the economy of Portugal:
The program remains broadly on track. In 2012, despite headwinds from abroad, real GDP growth remains in line with projections, exports are performing better than expected, and the fast reduction in the external deficit is contributing to alleviating the external financing constraint.
In 2012, economic activity is projected to decline by 3 percent.
Shrinking GDP is now regarded as real GDP growth.
Can we leave yet?
You couldn’t make it up
But what about the figures for tractor production.
No Tim ” you can stab them with your steely knives but you can never leave.”
Simple: persuade British people in 326 communities to elect MPs who agree with you; they can vote to repeal the European Communities Act 1972; the UK immediately leaves.
Or, completely fail to persuade British people in 326 constituencies of your case, and pretend there’s something other than the will of the majority of the UK parliament that’s stopping us leaving, despite that not being true.
it’s quite common to see “economic growth” defined in a way that can take positive or negative values
growth =(Yt+1-Yt)/Yt
this does not mean shrinking GDP is regarded as real economic growth, it’s just semantics
The statement is just that GDP is growing in line with projections, since those projections are for a shrinking economy then negative growth is indeed “in line with projections”.
“Real” would normally refer to the numbers being inflation adjusted – not “oh look, it’s really growing”