Portugal: Industry slows down in June
July 30, 2013
In June, industrial production expanded 2.1% over the same month last year. The figure represents a deceleration over the 4.1% expansion seen in May. The reading reflects an expansion in manufacturing as well as in electricity, gas, steam and air conditioning supply.
Compared to May, industrial output decreased 2.7% in seasonally and working-day adjusted terms, which contrasts the 5.4% increase tallied in May. In spite of the lower year-on-year figure, annual average growth in industrial output stepped up from minus 2.1% in May to minus 1.5% in June.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 0.9% this year, which is up 2.1 percentage points from last month's forecast. For 2014, participants expect industrial output to pick up to 1.7%.