Portugal Industry

Portugal

Portugal: Industrial production contracts in May

June 30, 2014

In May, industrial production fell 0.1% over the same month last year. The reading, which contrasted the 4.1% rise recorded in April, was caused by a broad-based deterioration. Mining and quarrying, as well as electricity, gas and water posted sharp contractions in May. Manufacturing continued to expand, although it decelerated markedly.

Compared to the previous month, industrial output decreased 2.2% in seasonally- and working-day adjusted terms, which markedly contrasted the 5.5% rise tallied in April. Following the negative year-on-year reading, annual average growth in industrial output inched down from 1.6% in April to 1.5% in May.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.5% this year, which is unchanged from last month’s forecast. For 2014, participants expect industrial output to expand 2.2%.


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Portugal Industry Chart


Portugal Industry May 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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