Portugal Industry November 2019

Portugal

Portugal: Industrial production rebounds mildly in November

December 30, 2019

Industrial production inched up 0.2% in November over the same month of the previous year, following a revised 2.3% year-on-year drop in October (previously reported: -2.4% year-on-year). The reading reflected an improvement in each of the sub-sectors: Mining production continued its recovery, the supply of electricity, gas, steam and air conditioning rebounded, and the decline in manufacturing output softened.

In seasonally-adjusted month-on-month terms, industrial production fell 0.6% in November, contrasting October’s 3.0% rise. Lastly, the annual average variation in industrial output fell 2.8% in November, marginally less than the 3.1% drop recorded in October.

FocusEconomics Consensus Forecast panelists project industrial production to rise 1.5% in 2020, which is up 0.2 percentage points from last month’s estimate, with output expanding 1.4% in 2021.


Author:, Economist

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Portugal Industry November 2019 0

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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