Portugal Industrial production June 2022

Portugal

Portugal: Industrial output growth accelerates in June

August 12, 2022

Industrial output rose 3.7% year-on-year in seasonally-adjusted terms in June, which followed May's 3.0% increase. Looking at the details of the release, manufacturing output expanded at a faster pace in June. However, the contraction in electricity, gas, steam and air conditioning supply output sharpened.

On a monthly basis, factory output fell 1.6% in seasonally-adjusted terms in June, following May’s 0.5% contraction. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at minus 1.7%, down from May's minus 0.5%.

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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