Portugal Industry August 2016


Portugal: Industrial production increases in August

September 30, 2016

Portugal’s industrial production edged up in August after July’s drop. Industrial output increased 1.0% over the same month last year, which contrasted the revised 1.5% fall recorded in July. August’s increase was mainly caused by an impressive double-digit expansion in the energy sector, which more than offset another double-digit drop in mining. Moreover, manufacturing output decreased at a slower rate than in July.

Annual average growth in industrial production stayed at July’s 1.2%, which is a break from the moderating trend that had been in place since April of this year.

On a seasonally-adjusted month-on-month basis, August’s 1.1% contraction marked a further deterioration from the revised 0.9% drop in July (previously reported: -1.1% month-on-month).

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.0% this year, which is up 0.3 percentage points from last month’s forecast. For 2017, panel participants expect industrial output to expand 1.4%.

Author:, Economist

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Portugal Industry Chart

Portugal Industry August 2016

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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