Portugal Industry January 2018


Portugal: Industrial production growth picks up pace in January

March 2, 2018

Annual growth in industrial output increased to 2.8% in January, up significantly from 0.6% in the previous month. The pick-up was mainly attributable to an upturn in the manufacturing sector, while output of consumer goods also grew more rapidly in January than in December; they grew 4.7% year-on-year and 1.6% yoy, respectively. The electricity, gas, steam and air conditioning sector was the sole component that recorded a sharp contraction, of 6.6% year-on-year. Data on the mining and quarrying, and the water, sanitation, and management of waste and depollution sectors has not yet been released.

In seasonally-adjusted, month-on-month terms, industrial production swung from a revised 1.2% contraction in December (previously reported: -0.4% month-on-month) to a 2.5% expansion in January. Lastly, annual average growth in industrial production inched down from 4.0% in December to 3.9% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.4% in 2018, which is unchanged from last month’s estimate, and 2.3% in 2019.


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Portugal Industry Chart

Portugal Industry January 2018 0

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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