Portugal remained in contraction as the economy struggles with a revised contraction for the end of 2010 as the debt crisis haunts the nation.

According to preliminary growth reading, Portugal contracted by 0.7% in the first quarter from a revised 0.6% contraction from 0.3% drop and worse than the expected 0.3% contraction. On the year, growth contracted by 0.7% from a revised 1.0% expansion from 1.2%.