Portugal: Industrial production accelerates in December
January 31, 2011
Industrial production soared a seasonally and calendar-day adjusted 3.8% in December over the previous month, following on a 0.9% expansion recorded in November. The expansion reflected a strong improvement in energy production (November: -11.1% month-on-month; December: +23.4% mom) as activity rebounded after a strike sent the sector nose-diving in November. Moreover, capital goods (+9.9% mom) and durable goods (+6.3% mom) production also fanned the monthly expansion. On an annual basis, industrial output rose 3.3% over December 2009 (November: +0.9% year-on-year). As a result, the trend continues to point upwards, with annual average growth improving from 1.3% in November to 1.7% in December.