Portugal: Industrial production decelerates in January
February 29, 2016
In January, industrial production grew 0.7% over the same month last year, which was below the 1.2% rise recorded in December and marked a five-month low. According to Statistics Portugal (INE), January’s deceleration was the result of a deterioration in manufacturing, which more than offset improvements in mining and electricity, gas and water.
Compared to the previous month, industrial output rose a seasonally-adjusted 0.8% in January, which contrasted December’s 1.5% decrease. Meanwhile, annual average growth in industrial production inched up from December’s 1.8% to 2.0% in January, which marked the strongest reading in over a year.
Author: Eric Denis , Economist