Portugal Industry


Industry drops in July

In July, industrial production dropped 2.3% over the same month last year. The decrease, which contrasts the 2.3% rise registered in June, was mainly influenced by a decline in electricity, gas, steam and air conditioning supply, as well as in mining and quarrying.

Compared to June of last year, industrial output dropped 3.1% in seasonally and working-day adjusted terms, which followed the 2.7% decline tallied in June. As a result of the negative year-on-year reading, annual average growth in industrial output edged down from minus 1.5% in June to minus 1.7% in July.

FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.2% this year, which is unchanged from last month's forecast. For 2014, panellists expect industrial output to pick up to 0.5%.

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Portugal Industry Chart

Portugal Industry July 2013

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

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