Portugal: Industrial production shoots higher in December
January 30, 2020
Industrial production jumped 3.3% higher in December over the same month of the previous year, following a revised 0.4% rise in November (previously reported: +0.2% year-on-year) and marking the strongest expansion in two years. The reading was primarily driven by a surge in output in the supply of electricity, gas, steam and air conditioning, as well as a rebound in the manufacturing sector which returned to growth after four months of contraction.
In seasonally-adjusted month-on-month terms, industrial production rose 2.8% in December, contrasting November’s 0.6% decline. Lastly, the annual average variation in industrial output fell 2.4% in December, improving marginally from the 2.8% drop recorded in the previous month.
Author: Stephen Vogado, Economist