Portugal: Industrial production accelerates in December
January 29, 2016
In December, industrial production grew 1.7% over the same month last year, which was above the 0.5% rise recorded in November. According to Statistics Portugal (INE), December’s acceleration was the result of an improvement in manufacturing, which more than offset deteriorations in mining and electricity, gas and water.
Compared to the previous month, industrial output fell a seasonally-adjusted 0.1% in December, which followed November’s 3.8% decrease. Meanwhile, annual average growth in industrial production inched up from November’s 1.6% to 1.8% in December, which marked the strongest reading in over a year.
Author: Eric Denis , Economist