Portugal Industry


Industrial output stabilizes in December

In December, industrial production contracted 4.1% over the same month the previous year, which matched the decline registered in November. The contraction was broad-based as all categories deteriorated, especially the production of electricity, gas and water.

On a monthly basis, however, industrial production declined a softer 1.3% in seasonally and working-day adjusted terms, up from the 3.2% contraction recorded in November.

In the full year 2012, industrial production fell 5.0%, which represented a larger decrease to the 1.9% drop recorded in 2011 and marked a second consecutive year of contracting industrial output.

The Bank of Portugal expects the economy to contract 1.9% this year and to rebound to 1.3% growth in 2014


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Portugal Industry Chart

Portugal Industry December 2012

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Portugal (INE) and FocusEconomics calculations.

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