Portugal Industrial production April 2020

Portugal

Portugal: Industrial output falls at unparalleled pace in April on Covid-19 blow

June 1, 2020

Industrial production collapsed an unprecedented 25.9% year-on-year in April (March: -6.8% year-on-year) due to activity restrictions amid the measures enacted to contain Covid-19’s spread. The downturn reflected an across-the-board decline in the extractive, manufacturing, utilities and water supply sectors.

In seasonally-adjusted month-on-month terms, industrial production dived 18.2% in April, following March’s 7.8% plunge. Lastly, the annual average variation in industrial output fell to minus 3.7% from minus 1.6% in the previous month.

FocusEconomics Consensus Forecast panelists project industrial production to contract 6.6% in 2020, which is up 0.2 percentage points from last month’s estimate, with output expanding 5.6% in 2021.


Author:, Economist

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Portugal Industry April 20 20

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


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