Portugal: Industrial production slows in September
September 30, 2014
In September, industrial production contracted 1.3% over the same month last year, which contrasted August’s 2.0% expansion. According to Statistics Portugal (INE), manufacturing swung from a 3.7% rise in August to a 1.9% drop in September. In contrast, electricity, gas and water grew 5.2%, which contrasted August’s 1.1% decrease.
Compared to the previous month, industrial output in September declined 2.6% in seasonally- and working-day adjusted terms, which was down from August’s 0.2% contraction. In addition, annual average growth worsened, falling to a 2.3% expansion from August’s 2.6% increase.