Portugal Industry September 2019


Portugal: Industrial sector contracts sharply again in September

October 30, 2019

Industrial production continued to fall in annual terms in September and at largely the same rate as the previous month (September: -5.2% year-on-year; August: -5.3% yoy). The drop in the supply of electricity, gas, steam and air conditioning eased somewhat, but was offset by a swing to contraction in mining and quarrying, and a sharper decline in manufacturing output.

In seasonally-adjusted, month-on-month terms, industrial production fell 2.3% in September, matching August’s contraction. Lastly, the annual average variation in industrial output fell to minus 2.8% in September from minus 2.4% in August.

FocusEconomics Consensus Forecast panelists expect industrial production to fall 2.6% in 2020, which is up 0.1 percentage points from last month’s estimate. They see the industrial sector returning to growth in 2021, with output expanding 1.5%.


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Portugal Industry Chart

Portugal Industry September 2019 1

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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