European Statistical Office data: Portugal's industrial output in December 2013 increased by 7.1% compared to the same period last year, making it one of the countries in the European Union with the highest year-on-year growth in industrial output.
In November 2013, Portugal's industrial production growth rate was 3.6%. In December 2013, Portugal's industrial output increased by 0.7% compared to November, ranking third in the EU, with Slovenia leading the monthly growth rate (2.7%), followed closely by Greece (2.6%). The United Kingdom dropped out of the top three, ranking fourth with a monthly industrial output growth rate of 0.4%, lower than that of Portugal.
Besides Portugal, nine other European countries experienced year-on-year growth in industrial output, while thirteen countries saw a decline. Germany's largest bank, Deutsche Bank, stated in an analysis report to clients, "Portugal is indeed the biggest surprise among Eurozone countries." Deutsche Bank pointed out that "since spring, the Portuguese economy has shown significant growth, and the labor market is gradually improving."
Deutsche Bank emphasized that "after the end of the bailout program in mid-2014, Portugal has a great opportunity to stand on its own." The bank believes that Portugal does not need a new bailout plan, but cannot completely emulate Ireland, stating, "We believe that Portugal is most likely to apply for preventive arrangements from the EU."
In the Eurozone, industrial output grew by 0.5%, while the EU's industrial output growth rate reached 0.9%.
