Portugal Industry


Industry growth moderates in January

In January, industrial production increased 3.9% over the same month last year, which represents a deceleration over the 5.7% increase seen in December. The increase reflects a rise in the electricity, gas, steam, and air conditioning supply category, as well as in mining and quarrying.

On an annual basis, industrial output grew 0.1% in seasonally and working-day adjusted terms, which contrasted the 0.2% decline tallied in December. As a result of the positive annual figure, annual average growth in industrial output rose from 0.8% in December to 1.3% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.3% this year, which is down 0.1 percentage points from last month's forecast. For 2015, participants expect industrial output to expand 2.2%.

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Portugal Industry Chart

Portugal Industry January 2014

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

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