Portugal Industry January 2017

Portugal

Portugal: Growth in industrial production decelerates in January

March 2, 2017

In January, industrial production increased 2.7% annually, which was down from the revised 4.4% expansion in December (previously reported: +5.1% year-on-year). January’s slowdown was caused by weaker growth in manufacturing output and in the electricity, gas and water sector. The index was also dragged down by a drop in mining.

Annual average growth in industrial production increased from 1.0% in December to 1.2% in January.

On a seasonally-adjusted month-on-month basis, in January industrial production decreased 0.5%, which contrasted the 0.6% increase observed in December.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.8% this year, which is up 0.5 percentage points from last month’s forecast. For 2018, panel participants expect industrial output to expand 1.7%.


Author: Ricard Torné, Head of Economic Research

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Portugal Industry January 2017

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Portugal (INE) and FocusEconomics calculations.


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