Portugal: Industrial production accelerates in October
November 30, 2015
In October, industrial production increased 4.2% over the same month last year, which was above the 3.6% rise recorded in September and marked the highest value since July 2014. According to Statistics Portugal (INE), October’s acceleration in industrial output was the result of a strong improvement in electricity, gas and steam, which more than offset deteriorations in both mining and manufacturing.
Compared to the previous month, industrial output rose a seasonally-adjusted 2.8% in October, which contrasted September’s 0.1% decrease and marked the highest reading in a year and a half. Annual average growth in industrial production increased from September’s 1.2% to 1.4% in October.
Author: Eric Denis , Economist