Portugal Industrial production May 2020


Portugal: Industrial output collapses again in May

June 30, 2020

Industrial output collapsed 26.0% year-on-year in May, which followed the record-breaking 27.4% plunge in April. The downturn was primarily driven by plummeting manufacturing output. Production in extractive industry, meanwhile, rebounded compared to April.

In seasonally-adjusted month-on-month terms, industrial production grew 2.5% in May, rebounding from April’s 19.3% crash. Lastly, the annual average variation in industrial output fell to minus 6.1% from minus 3.9% in the previous month.

FocusEconomics Consensus Forecast panelists project industrial production to contract 7.3% in 2020, which is down 0.7 percentage points from last month’s estimate, with output expanding 4.8% in 2021.

Author:, Economist

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Portugal Industrial production Chart

Portugal Industry May 20 20

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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