Portugal: Industrial production decelerates in June
July 30, 2015
In June, industrial production increased 2.7% over the same month last year, which was below the 3.5% reading recorded in May. According to Statistics Portugal (INE), June’s deceleration in industrial output was the result of a softer growth in all sectors, with mining as well as electricity, gas and water sectors recording the most notable slowdowns.
Compared to the previous month, industrial output fell a seasonally-adjusted 1.3% in June. The result contrasted the 1.7% increase tallied in May and marked a six-month low. However, annual average growth in industrial production improved in June, inching up from 0.7% in May to 0.9% in June.
Author: Eric Denis , Economist