Portugal: Industry grows in September
October 30, 2013
In September, industrial production grew 1.3% over the same month last year. The figure came in above the 0.4% expansion recorded in August. The print was mainly influenced by an increase in mining as well as by a rebound in electricity, gas, steam and air conditioning supply.
Compared to August, industrial output plummeted 11.3% in seasonally and working-day adjusted terms, which contrasts the 8.1% increase seen in August. As a result of the year-on-year rise, annual average growth in industrial output stepped up from minus 1.4% in August to minus 0.5% in September, the highest level since October 2011.
FocusEconomics Consensus Forecast panelists expect industrial production to rise 0.7% this year, which is down 1.0 percentage points from last month's forecast. For 2014, panelists expect industrial output growth to inch up to 1.9%, which is up 0.1 percentage points from the previous month's estimate.