Portugal Industry

Portugal

Portugal: Industrial production slows in October

November 28, 2014

In October, industrial production rose 0.2% over the same month last year, which contrasted September’s 2.1% contraction. According to Statistics Portugal (INE), manufacturing improved from a 2.9% fall in September to a 0.3% drop in October. In addition, electricity, gas and water grew 7.2%, which was above September’s 5.2% increase.

Compared to the previous month, industrial output in October rose 1.6% in seasonally- and working-day adjusted terms, which contrasted from September’s 3.0% contraction. However, annual average growth worsened, falling to a 1.9% expansion from September’s 2.2% increase.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.9% this year, which is down 0.5 percentage points from last month’s forecast. For 2015, participants expect industrial output to expand 2.5%, which is down 0.7 percentage points from the previous month’s prediction.


Author: Angela Bouzanis, Senior Economist

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Portugal Industry Chart


Portugal Industry October 2014

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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