Portugal: Industry slows in February
April 28, 2014
In February, industrial production grew 3.8% over the same month last year. The expansion marks a deceleration over the 4.4% expansion registered in January. The print reflects that the expansion tallied in manufacturing more than offset the deceleration recorded in both the mining and in the electricity, gas and water sector.
Compared to January, industrial production fell 0.6% in seasonally- and working-day adjusted terms, which contrasts the 0.6% rise seen in January. Despite the lower year-on-year reading, annual average growth in industrial production rose from 1.3% in January to 1.7% in February.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.2% this year, which is unchanged from last month's forecast. For 2014, participants expect industrial output to pick up to 0.5%.