Portugal: Industry drops in March
April 29, 2014
In March, industrial production fell 1.3% over the same month last year. The reading, which contrasts the 3.1% rise seen in February, was mainly driven by a decline in manufacturing and in mining and quarrying.
Compared to March last year, industrial output decreased 4.0% in seasonally- and working-day adjusted terms, which followed the 0.8% decline tallied in February. Despite the negative year-on-year reading, annual average growth in industrial output edged up from 1.3% in February to 1.4% in March.
FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.5% this year, which is unchanged from last month's forecast. For 2014, participants expect industrial output to expand 2.2%.