Portugal: Industrial production surges in April
May 30, 2018
Annual growth in industrial production surged to 3.8% in April, up from a revised expansion of 2.1% in March (previously reported: +1.7% year-on-year). A breakdown of the data shows that manufacturing output rebounded in the month, expanding 2.1% which contrasted a 1.7% contraction in the previous month. The mining and quarrying sector picked up notably, with growth of the sector surging to 27.1% following a much milder 0.8% expansion. Conversely, the electricity, gas, steam and air conditioning supply sector lost stride, growing at almost half the pace of the previous month as growth of the sector fell from 21.3% to 10.4%.
In seasonally-adjusted, month-on-month terms, industrial production swung to a 3.1% contraction in April, which contrasted a revised 4.0% expansion in March (previously reported: +3.7% month-on-month). Annual average growth in industrial production rose to 4.0% in April from 3.5% in March.
Portugal Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.1% in 2018, which is unchanged from last month’s estimate, and also 2.1% in 2019.
Author: Nihad Ahmed, Economist