Industry in Portugal

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Portugal - Industry

Contraction of industrial sector eases in December

Portugal’s industrial output fell for the eighth consecutive month in December, although the rate of contraction eased markedly. The industrial sector contracted 0.3% over the same month of the previous year in December, following a 3.1% year-on-year drop in November. Behind the improved print was an acceleration in the mining and quarrying sector and a reduced rate of decline in manufacturing output. An upturn in both countered the electricity, gas, steam and air conditioning sector’s swing to contraction in December, from expansion in November.

In seasonally-adjusted, month-on-month terms, industrial production rebounded in December, growing 1.1% over the previous month, contrasting a revised 2.9% month-on-month in November (previously reported: +2.4% month-on-month). Annual average growth in industrial output remained flat in December, matching November’s reading.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 1.2% in 2019, which is down 0.7 percentage points from last month’s estimate. For 2020, the panel sees growth in industrial output inching down to 1.1%.

Portugal - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)0.5  1.4  2.1  2.3  3.9  

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Portugal Industry Chart

Portugal Industry
Note: Annual variation of industrial production in %.
Source: Statistics Portugal (INE).

Portugal Facts

Bond Yield1.59-1.90 %Feb 14
Exchange Rate1.130.65 %Feb 14
Stock Market5,087-0.02 %Feb 14

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