Portugal: Industrial production swings to contraction in October
November 30, 2016
Industrial production in Portugal fell by 0.5% on a year-on-year basis in October, which was the worst performance in three months and contrasted the 1.0% rise recorded in September. The drop was caused by contractions in the manufacturing and mining sectors, while the utilities industry expanded in October compared to the same month last year.
On a seasonally-adjusted month-on-month basis industrial production grew by 1.4% in October, compared with a 0.9% decline in September, while the annual average growth rate of industrial production fell from 1.1% to 0.7%.
Author: Oliver Reynolds, Economist