Portugal Industry


Industry slows down in June

In June, industrial production expanded 2.1% over the same month last year. The figure represents a deceleration over the 4.1% expansion seen in May. The reading reflects an expansion in manufacturing as well as in electricity, gas, steam and air conditioning supply.

Compared to May, industrial output decreased 2.7% in seasonally and working-day adjusted terms, which contrasts the 5.4% increase tallied in May. In spite of the lower year-on-year figure, annual average growth in industrial output stepped up from minus 2.1% in May to minus 1.5% in June.

FocusEconomics Consensus Forecast panellists expect industrial production to rise 0.9% this year, which is up 2.1 percentage points from last month's forecast. For 2014, participants expect industrial output to pick up to 1.7%.

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Portugal Industry Chart

Portugal Industry June 2013

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

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