Portugal Industry


Industry soars in December

In December, industrial production climbed 7.2% over the same month the previous year. The figure came in above the 3.4% expansion observed in November and marked the largest increase since seasonally and working-day adjusted data became available in January 2011. The expansion was mainly influenced by a healthy increase in manufacturing as well as a rebound in electricity, gas and water.

On a monthly basis, industrial output rose 1.1% in seasonally and working-day adjusted terms, which marked a deceleration over the 1.8% rise recorded in November. In the full year 2013, industrial production expanded 0.9%, which contrasted the 6.1% drop tallied in 2012.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.4% this year, which is up 0.4 percentage points over last month's forecast. For 2015, participants see industrial output at 2.3%.

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Portugal Industry Chart

Portugal Industry December 2013

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

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