Portugal Industry October 2018

Portugal

Portugal: Industrial sector contracts at same pace in October as the previous month

November 30, 2018

Portugal’s industrial sector contracted for the sixth consecutive month in October, with output declining 0.3% year-on-year, matching revised September’s reading (previously reported: -0.1% year-on-year). A contraction in manufacturing output and a moderation in the growth of the mining and quarrying sector offset a rebound in the supply of electricity, gas, steam and air conditioning.

In seasonally-adjusted, month-on-month terms, the contraction of the industrial sector was more tepid. In October, industrial output fell 0.9% over the previous month, after declining a revised 2.6% month-on-month in September (previously reported: +2.8% month-on-month). Annual average growth in industrial production dropped to 0.5% in October, down from 0.9% in September.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 1.9% in 2019, which is down 0.2 percentage points from last month’s estimate. For 2020, the panel sees growth in industrial output declining to 1.2%.


Author:, Economist

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Portugal Industry October 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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