Portugal Industry

Portugal

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.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.9% this year, which is down 0.5 percentage points from last month’s forecast. For 2016, panel participants expect industrial output to expand 2.5%.


Author:, Economist

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Portugal Industry Chart


Portugal Industry April 2015

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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