Portugal: Industrial production decelerates in July
August 28, 2015
In July, industrial production increased 1.4% over the same month last year, which was significantly below the 3.1% rise recorded in June and marked a three-month low. According to Statistics Portugal (INE), July’s deceleration in industrial output was the result of a contraction in the manufacturing sector, which more than offset improvements in mining as well as electricity, gas and water sectors.
Compared to the previous month, industrial output fell a seasonally-adjusted 0.1% in July. The result followed the 0.9% decrease tallied in June. Annual average growth in industrial production deteriorated in July, falling from 0.9% in June to 0.6% in July.
Author: Eric Denis , Economist