Portugal Industry

Portugal

Portugal: Industrial production expands in July

August 29, 2014

In July, industrial production expanded 3.5% over the same month last year. The reading, which contrasted the flat growth recorded in June, was caused by an across-the-board improvement. Mining and quarrying, as well as electricity, gas and water rebounded strongly in July. In addition, growth in manufacturing accelerated in the same month.

Compared to the previous month, industrial output increased 0.8% in seasonally- and working-day adjusted terms, which contrasted the 0.4% fall tallied in June. Following the positive year-on-year reading, annual average growth in industrial output increased from 1.4% in June to 2.0% in July.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.8% this year, which is down 0.4 percentage points from last month’s forecast. For 2015, participants expect industrial output to expand 2.5%.


Author: Angela Bouzanis, Senior Economist

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Portugal Industry July 2014

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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