Portugal: Growth in industrial production decelerates in September
November 4, 2016
In September, industrial production increased 1.8% from the same month of last year, which came in below the 2.1% increase seen in August. September’s increase was mainly caused by a double-digit expansion in the electricity, gas and water sector as well as by the rebound in the manufacturing sector, which expanded at the fastest rate in seven months. Conversely, the mining sector contracted again in September.
Annual average growth in industrial production inched down from 1.3% in August to 1.2% in September, which was the lowest reading since September 2015.
On a seasonally-adjusted month-on-month basis, in September, industrial production contracted 0.4%, which matched the revised contraction recorded in the previous month (previously estimated: -1.1% month-on-month).
Author: Dirina Mançellari, Senior Economist