Portugal: Industrial production growth slows but remains healthy in January
February 28, 2020
Industrial production pushed 2.0% higher in January over the same month of the previous year, but slowed from a revised 3.0% rise in December (previously reported: +3.3% year-on-year). The reading was dragged on by a contraction in the all-important manufacturing industry. However, a large upswing in mining activities and strong output in the supply of electricity, gas, steam and air conditioning sector tempered the slowdown.
In seasonally-adjusted month-on-month terms, industrial production ticked up 0.5% in January, slowing from December’s 2.7% uptick. Lastly, the annual average variation in industrial output fell 2.1% in January, improving marginally from the 2.5% decrease recorded in the previous month.
Author: Stephen Vogado, Economist