Portugal Industrial production April 2022

Portugal

Portugal: Industrial output dips in April

June 3, 2022

Industrial output dropped 1.8% year-on-year in seasonally-adjusted terms in April, which contrasted March's 0.7% increase. Looking at the details of the release, manufacturing output contracted in April, and the contraction in electricity, gas, steam and air conditioning supply output worsened.

On a monthly basis, factory output fell 2.0% in seasonally-adjusted terms in April, contrasting March’s 4.6% expansion. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 0.1%, down from March's 2.7%.

FocusEconomics Consensus Forecast panelists project industrial production to expand 2.9% in 2022, which is up 0.7 percentage points from last month’s estimate. In 2023, industrial output is seen growing 2.5%.


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