Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Portugal endures worst recession in 37 years
Monday - 3/11/2013, 8:13am EDT
LISBON, Portugal (AP) -- Portugal's statistics agency says the economy contracted 3.2 percent last year -- its sharpest annual downturn since 1975.
Portugal is enacting broad debt-reduction measures, including tax hikes and pay and pension cuts, in return for a EUR78 billion ($102 billion) international financial lifeline it received in May 2011. Those austerity policies are widely blamed for the deepening recession and growing hardship.
The National Statistics Institute said Monday that a drop in private consumption and slower export growth were the main factors behind the slump, with the economy shrinking 3.8 percent in the fourth quarter.
Unemployment stands at 17.6 percent, the third-highest rate in the 27-nation bloc after Greece and Spain.
The economy contracted 1.6 percent in 2011. The government predicts a 2 percent contraction this year.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.