Portugal: Industrial production rebounds in May
June 30, 2015
In May, industrial production increased 3.2% over the same month last year, which was significantly above the flat reading recorded in April. According to Statistics Portugal (INE), May’s acceleration in industrial output was the result of a stronger growth in all sectors, with electricity, gas and water sectors as well as manufacturing recording the most notable expansions.
Compared to the previous month, industrial output grew a seasonally-adjusted 1.2% in May. The result followed the 1.6% increase tallied in April. Annual average growth in industrial production improved in May, inching up from 0.5% in April to 0.7% in May.
Author: Eric Denis , Economist