Portugal Industry


Industry drops in March

In March, industrial production fell 1.3% over the same month last year. The reading, which contrasts the 3.1% rise seen in February, was mainly driven by a decline in manufacturing and in mining and quarrying.

Compared to March last year, industrial output decreased 4.0% in seasonally- and working-day adjusted terms, which followed the 0.8% decline tallied in February. Despite the negative year-on-year reading, annual average growth in industrial output edged up from 1.3% in February to 1.4% in March.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.5% this year, which is unchanged from last month's forecast. For 2014, participants expect industrial output to expand 2.2%.


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Portugal Industry Chart

Portugal Industry March 2014

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

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