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Portugal Industrial production November 2020

Portugal: Industrial output dips in November

Industrial output slid 3.6% compared to the same month a year earlier in November, which contrasted October’s 0.4% increase. Looking at the details of the release, the contraction in manufacturing production deepened in November, and electricity, gas, steam and air conditioning supply output swung to contraction. Contrastingly, extractive industries output dropped at a softer pace.

On a seasonally-adjusted monthly basis, industrial production fell 5.0% in November (October: +1.2% mom), the worst result since April. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.4% in November, down from October’s minus 6.1% reading.

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