Portugal: Industry rebounds in August
September 30, 2013
In August, industrial production expanded 0.7% over the same month last year. The print contrasts the 1.2% decline registered in July. The figure was mainly influenced by a rise in manufacturing as well as in mining and quarrying.
Compared to July, industrial output soared 8.3% in seasonally and working-day adjusted terms, which contrasts the 2.1% decline tallied in July. As a result of the higher annual print, annual average growth in industrial output edged up from minus 1.6% in July to minus 1.4% in August, the highest level since November 2011.
FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.7% this year, which is up 0.1 percentage points from last month's forecast. For 2014, panelists expect industrial output growth to inch up to 1.8%, which is up 0.3 percentage points from the previous month's estimate.