Portugal: Industrial production declines in April
May 29, 2015
In April, industrial production fell 0.5% over the same month last year, which contrasted the 3.8% increase tallied in March (previously reported: +3.4% year-on-year). According to Statistics Portugal (INE), April’s drop in industrial output was the result of a decline in both the manufacturing and the electricity, gas and water sectors. Conversely, the mining sector rebounded strongly in the same month.
Compared to the previous month, industrial output grew a seasonally-adjusted 1.1% in April. The result followed the 1.7% increase tallied in March. Annual average growth in industrial production deteriorated slightly in April, inching down from 0.9% in March to 0.5% in April, which marked a 16-month low.
Author: Eric Denis , Economist