Portugal Industry February 2018

Portugal

Portugal: Industrial production growth weakens in February

March 29, 2018

Industrial output grew 2.1% year-on-year in February, slightly weaker than the 2.5% annual expansion in January. The moderation in growth was caused by a slower rise in manufacturing output, which climbed 3.1% in February compared to 4.4% in the previous month. This more than offset a notable jump in the growth of the mining and quarrying sector from 5.2% in January to 10.7% in February. Moreover, electricity, gas, steam and air conditioning supply contracted at a softer pace of 3.7% following a 6.6% drop in the month before. Data on the water, sanitation, and management of waste and depollution sector has not yet been released.

In seasonally-adjusted, month-on-month terms, industrial production swung from a revised 2.7% expansion in January (previously reported: +2.5% month-on-month) to a 2.3% contraction in February. Annual average growth in industrial production inched up from 3.8% in January to 3.9% in February.

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.


Author:, Economist

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Portugal Industry Chart


Portugal Industry February 2018

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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