Portugal Industry


Industrial production rebounds to strong expansion in April

In April, industrial production expanded 4.1% over the same month last year. The reading, which contrasted the -0.5% drop seen in March, was mainly driven by a rebound in manufacturing output, which tallied the strongest expansion since April 2011. Mining and quarrying also expanded in April, whereas, despite tallying a notable deceleration, electricity, gas and water remained in positive figures.

Compared to the previous month, industrial output surged 5.4% in seasonally- and working-day adjusted terms, which contrasted the 3.2% decline tallied in March. As a result of the strong year-on-year expansion, annual average growth in industrial output edged up from 1.5% in March to 1.6% in April.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.5% this year, which is unchanged from last month’s forecast. For 2015, participants expect industrial output to expand 2.2%.


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Portugal Industry Chart

Portugal Industry April 2014

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Portugal (INE) and FocusEconomics calculations.

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