Portugal Industry July 2018

Portugal

Portugal: Industrial production records sharper contraction in July

August 30, 2018

Industrial production contracted 1.7% over the same month of last year in July, following a revised 0.2 % year-on-year decline in June (previously reported: -0.9% year-on-year). The sharper contraction reflected an across-the-board deterioration. Growth in mining and quarrying output moderated, the manufacturing sector recorded a sharper contraction, while electricity, gas, steam, and air conditioning supply swung to contraction.

In seasonally-adjusted, month-on-month terms, industrial production increased 0.7% in July following a revised 1.8% rise in June (previously reported: +1.1% month-on-month). Annual average growth in industrial production dropped to a 14-month low of 2.3% in July, down from 3.0% in June.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.9% in 2018, which is up 0.2 percentage points from last month’s estimate, and 2.3% in 2019.


Author:, Economist

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Portugal Industry July 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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