Portugal Industry September 2018

Portugal

Portugal: Contraction in industrial production eases markedly in September

October 30, 2018

The performance of the industrial sector improved year-on-year in September, following a notable contraction in August. While output dropped again in September, the rate of contraction eased to 0.1% from August’s revised 3.3% decline (previously reported: -2.9% year-on-year). There was an across-the-board upturn, led by a marked rebound in the mining and quarrying sector. While manufacturing output and the supply of electricity, gas, steam and air conditioning contracted again, the deterioration was milder than seen in the previous month.

In seasonally-adjusted, month-on-month terms, industrial production swung to a 2.8% contraction in September from a revised 2.1% expansion in August (previously reported: +2.7% month-on-month). Annual average growth in industrial production dropped to 1.0% in September from 1.3% in August.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 2.1% in 2019, which is down 0.1 percentage points from last month’s estimate. For 2020, the panel sees growth in industrial output declining to 1.4%.


Author:, Economist

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Portugal Industry September 2018

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


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