Industrial Production in Portugal
Over the past decade to 2022, Portugal reported an average industrial production growth rate of 0.4%, below the Euro Area average of 1.1%. In 2022, industrial production growth was 0.3%. For more industry information, visit our dedicated page.
Portugal Industry Chart
Portugal Industry Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 0.1 | -2.3 | -7.0 | 3.0 | 0.3 |
Industrial output deteriorates in December
Industrial production decreased 0.8% month-on-month in seasonally adjusted terms in December (November: +3.7% mom). The reading was largely driven by a deterioration in manufacturing output growth and a strong contraction in electricity, gas, steam and air conditioning supply. On a seasonally adjusted annual basis, industrial production fell at a quicker rate of 5.0% in December (November: -1.1% yoy). Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 2.8% in December, down from November's minus 2.3% reading.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Portuguese industry projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Portuguese industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Portuguese industry projections.
Want to get access to the full dataset of Portuguese industry forecasts? Send an email to info@focus-economics.com.
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