Portugal Industrial production November 2021

Portugal

Portugal: Industrial output rebounds in November

December 30, 2021

Industrial output increased 0.2% year-on-year in seasonally-adjusted terms in November (October: -6.3% s.a. yoy). The reading reflected a broad-based upturn, with activity in the manufacturing, electricity, gas, steam and air conditioning supply and extractive industries sub-sectors all improving in November.

On a monthly basis, factory output rose 1.2% in seasonally-adjusted terms in November, which was above October’s 0.4% expansion. Meanwhile, annual average industrial production growth rose to 2.4% in November (October: +2.1%), signaling an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project industrial production to expand 2.8% in 2022, which is down 0.1 percentage points from last month’s estimate. In 2023, industrial output is seen growing 2.3%.


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Portugal Industry November 2021

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


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