Portugal Industry October 2019

Portugal

Portugal: Contraction of industrial sector eases in October

November 29, 2019

Industrial production fell 2.4% over the same month of the previous year, following a 5.5% year-on-year drop in September. There was an across-the-board improvement in the sub-sectors: Mining production rebounded, while the decline in manufacturing output and the supply of electricity, gas, steam and air conditioning softened.

In seasonally-adjusted, month-on-month terms, industrial production returned to growth in October, rising 3.0% (September: -2.6% month-on-month). Lastly, the annual average variation in industrial output fell to minus 3.1% in October from minus 2.9% in September.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.3% in 2020, which is down 0.2 percentage points from last month’s estimate, with output expanding 1.5% in 2021.


Author:, Economist

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Portugal Industry October 2019

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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