In January 2018, the national output of industry recorded a decrease of 2.4% in comparison with the result of 2017 (seasonally adjustes series), and interrupted a series of four months with positive results (and an increase of 4.3%). That was the biggest decrease since February (-2.5%).

Against January 2017, (seasonally adjusted series), industry grew 5.7%, the ninth positive rate in a row since April 2013 (9.8%).

In the cumulative index in 12 months, after having increased 2.8% in January 2018, the industrial output recorded the highest positive result since June 2011 (3.6%), having remained on an upward trend since June 2016 (-9.7%).

The complete publication and the time series of the Monthly Survey of Industry can be found on the right of this page.

From December and January, 19 of the 24 subsectors surveyed recorded decrease 

From December 2017 to 2018, the industrial output had an overall profile of decrease, and reached three of the four major economic categories and 19 of the 24 subsectors surveyed. Among the sectors, the he main negative influence was recorded by motor vehicles, trailers and trunks (-7.6%), returning, as a result, part of the 9.1% expansion recorded in the previous month. 

Other relevant negative contributions came from basic metals (-4.1%), rubber and plastic products (-5.4%), food products (-1.1%), toiletries, soaps and cleaning and personal hygiene products (-2.4%), other transportation equipment (-12.1%), metal products (-4.9%), miscellaneous manufacturing (-11.2%), pulp, paper and paper products (-3.3%) and coke, petroleum products and biofuels (-1.6%). Except for this activity, which recorded decrease for the fourth month in a row and had cumulative decrease of 7.5% in the period, the other had positive rates in December 2017: 5.1%, 6.7%, 3.3%, 1.3%, 15.3%, 6.2%, 21.4% and 4.2%, respectively.

Among the five sectors which expanded production in the month, the most significant performances for the overall average were those of pharmaceuticals (21.0%), mining and quarrying industry (2.2%) and beverages (5.0%). The first two activities left behind the decreases of 3.7% and 1.6% recorded in the previous month; and the third one advanced for the second month in a row, with a cumulative increase of 5.5% in the period.

Considering the major economic categories, durable consumer goods (-7.1%) recorded the most significant decrease and eliminated part of the expansion of cumulative 9.8% registered in the last two months of 2017. That was the most significant negative rate since March 2017 (-7.5%). The segments of intermediate goods (-2.4%) and capital goods (-0.3%) also faced decrease in the month, and the former returned part of the 3.6% gain registered in November and December 2017, a period with cumulative expansion of 12.4%.

On the other hand, semi-durable and non-durable consumer goods (0.5%) accounted for the only positive rate in the month, the second increase in a row in this type of comparison, with cumulative increase of 4.2% in the period.  

Quarterly moving average changes by 0.3%

Also in the seasonally-adjusted series, the quarterly moving average index for the industry overall recorded a positive change of 0.3% in the quarter ended January 2018, against the level observed in the previous year. It has remained on an upwards trend since April 2017. Among the major economic categories, durable consumer goods (0.7%) accounted for the most significant increase in the month and has kept the positive performance since April 2017.

Semi and non-durable goods (0.4%), intermediate goods (0.4%) and capital goods (0.2%) also recorded positive results in January 2018: the first one recorded increase for the second month in a row; the second has been on a predominantly upward trend since May 2017, and the third one has recorded its 11th consecutive increase, with a hike of 12.4% in the period.

Industry grew 5.7% in relation to January 2017

Against the same month a year ago, industry recorded an increase of 5.7% in January 2018, with positive results in all the four major economic categories, 20 of the 26 activities, 58 of the 79 groups and 60.0% of the 805 products surveyed. Among the activities, motor vehicles, trailers and trunks (27.4%) accounted for the most significant positive contribution to the industry overall.

Other significant contributions from the national total came from machinery and equipment (15.6%), food products (4.5%), computer equipment, electronic and optical products (32.0%), basic metals (10.0%), beverages (11.1%), pharmaceuticals (15.2%), rubber and plastic products (5.7%), pulp, paper and paper products (5.3%), basic metals (5.7%), wood products (12.8%), furniture (12.4%), textiles (9.1%) and electrical machinery and apparatuses (5.0%).

Durable consumer goods (20.0%) and capital goods (18.3%) recorded the main increases among the major economic categories. The segments of intermediate goods (4.2%) and semi and non-durable goods (3.0%) also recorded positive rates in the month, but both with increase below the national average (5.7%).

The segment of durable consumer goods reached 20.0% in January 2018 against the same period in the previous year, the fifteenth positive result in this type of comparison, though slightly below the figure of December 2017 (21.1%). In the month, the sector was mainly influenced by the production of cars (17.3%) and “brown goods” (50.4%).

It is also worth mentioning the increases recorded by “white goods” (4.7%), motorcycles (8.8%) and furniture (13.9%). On the other hand, the main negative impact was that of other household appliances (-0.6%).

Capital goods recorded increase of 18.3% in the monthly index of January 2018, the ninth positive result in this type of comparison and the most significant since September 2013 (24.1%). The segment was influenced by the increases observed in all its segments, the main highlights being the 30.7% increase of capital goods for transportation equipment. The other positive rates came from capital goods for construction (81.4%), for mixed use (20.3%), for industrial use (6.7%), for agriculture (19.3%) and for electricity (3.4%)

Intermediate goods (4.2%) recorded the ninth positive rate in a row, slightly before that of the previous month (4.4%). That result was mainly due to the advances in products associated to the activities of motor vehicles, trailers and trunks (22.9%), basic metals (10.0%), food products (7.0%), machinery and equipment (24.2%), metal products (6.6%), rubber and plastic products (5.4%), pulp, paper and paper products (6.1%), textiles (5.6%) and non-metallic mineral products (1.3%), whereas coke, petroleum products and biofuels (-5.4%), other chemicals (-0.6%) and mining and quarrying industry (-0.1%) accounted for negative contributions.

Positive results also came from groups of typical inputs for civil construction (4.1%), which recorded expansion; and packaging (5.4%), with the sixth positive rate in a row.

The production of semi and non-durable goods pointed to an increase of 3.0% in the monthly index of January 2018, the fourth consecutive result in this type of comparison, and above the index recorded in the previous month (0.4%). The performance in the month resulted, to a great extent, from the increases observed in food and beverages for domestic consumption (3.1%) and non-durable goods (6.8%). The subsector of semi-durable goods (2.3%) also recorded a positive result, whereas fuels (-4.5%) recorded the only negative rate in this category.