Portugal Industry January 2020

Portugal

Portugal: Industrial production growth slows but remains healthy in January

February 28, 2020

Industrial production pushed 2.0% higher in January over the same month of the previous year, but slowed from a revised 3.0% rise in December (previously reported: +3.3% year-on-year). The reading was dragged on by a contraction in the all-important manufacturing industry. However, a large upswing in mining activities and strong output in the supply of electricity, gas, steam and air conditioning sector tempered the slowdown.

In seasonally-adjusted month-on-month terms, industrial production ticked up 0.5% in January, slowing from December’s 2.7% uptick. Lastly, the annual average variation in industrial output fell 2.1% in January, improving marginally from the 2.5% decrease recorded in the previous month.

FocusEconomics Consensus Forecast panelists project industrial production to rise 1.6% in 2020, which is up 0.4 percentage points from last month’s estimate, with output expanding 1.3% in 2021.


Author:, Economist

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Portugal Industry January 20 20

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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