Portugal: Industrial production growth drops to eight-month low in December
January 30, 2018
Annual growth in industrial output slumped to an eight-month low in December, dropping to 1.3% from November’s 3.2% year-on-year expansion. Available data on the breakdown shows that both the manufacturing, and electricity, gas, steam, and air conditioning sectors lost steam in December. In year-on-year terms, the manufacturing sector grew 2.8%, below the 4.8% expansion in November. Meanwhile, electricity, gas, steam and air conditioning supply contracted at a sharper rate (December: -4.9% year-on-year; November: -3.2% yoy). Data on the performance of the mining and quarrying, and the water, sanitation, and management of waste and depollution sectors are not available.
In seasonally-adjusted, month-on-month terms, industrial production swung to a 0.4% contraction in December from November’s revised 0.4% expansion (previously reported: +0.8% month-on-month). Annual average growth in industrial production edged down to 4.1% in December from 4.3% in November.
Author: Nihad Ahmed, Economist