Portugal Industry

Portugal

Portugal: Industrial production contracts in June

July 30, 2014

In June, industrial production fell 0.2% over the same month last year. The reading, which contrasted the revised 0.2% rise recorded in May (previously reported: -0.1% year-on-year), was mainly driven by the deceleration seen in manufacturing production. Conversely, the mining sector and the electricity, gas and water production sector continued to contract, although at a softer pace in June.

Compared to the previous month, industrial output decreased 0.5% in seasonally- and working-day adjusted terms, which was up from the revised 1.8% contraction tallied in May (previously reported: -2.2% month-on-month). Following the negative year-on-year reading, annual average growth in industrial output inched down from 1.5% in May to 1.4% in June.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.2% this year, which is down 0.2 percentage points from last month’s forecast. For 2015, participants expect industrial output to expand 2.5%.


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Portugal Industry Chart


Portugal Industry June 2014

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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