Portugal: Industrial production records zero growth in November
December 30, 2015
In November, industrial production recorded zero growth over the same month last year, which was well below the 4.2% rise recorded in October and marked a seven-month low. According to Statistics Portugal (INE), November’s acceleration in industrial output was the result of deteriorations in all sectors, with mining in particular recording the sharpest downturn.
Compared to the previous month, industrial output fell a seasonally-adjusted 4.0% in November, which contrasted October’s 2.9% increase and marked a multi-year low. Nevertheless, the annual average growth of industrial production inched up from October’s 1.4% to 1.5% in November.
Author: Eric Denis , Economist