Portugal Industrial production July 2020

Portugal

Portugal: Decline in industrial activity softens in July

September 1, 2020

Industrial output decreased 9.6% year-on-year in July (June: -14.6% yoy). The milder fall comes on softer overall declines in manufacturing, and electricity, steam and water supply output.

In seasonally adjusted terms, industrial production rose 11.9% month-on-month in July, after growing 11.0% in June. However, the annual average variation of industrial production continued to fall, as it reached minus 7.8% in July (June: minus 7.1%).

FocusEconomics Consensus Forecast panelists project industrial production to contract 14.1% in 2020, which is down 5.6 percentage points from last month’s estimate, with output expanding 3.9% in 2021, which is down 1.5 percentage points from the previous month’s estimate.


Author:, Junior Economist

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Portugal Industrial production Chart


Portugal Industry July 20 20 0

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Portugal (INE) and FocusEconomics calculations.


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