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Portugal Industrial production April 2021

Portugal: Industrial output records best result on record in April

Industrial output rose 36.9% year-on-year in seasonally-adjusted terms in April, which was up from March’s 5.7% increase. April’s print marked the strongest increase on record. The notable upturn reflected a significant expansion in manufacturing and mining and quarrying output, but was supported by a favorable base effect. Meanwhile, electricity, gas, steam and air conditioning supply production also expanded solidly. However, both the electricity, gas, steam and air conditioning supply and manufacturing sectors remained below pre-pandemic levels.

On a monthly basis, industrial production grew 0.5% in seasonally-adjusted terms in April, rebounding from March’s 0.7% fall. Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at a two-year high of minus 1.4% in April, up from March’s minus 6.9% reading.

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