Industry in Portugal

Portugal Industry | Economic News & Forecasts

Portugal - Industry

Industrial sector contracts at the sharpest pace in nearly 7 years in March

Portugal’s industrial sector remained in the doldrums at the end of the first quarter, contracting at a much sharper pace in March compared to February. Industrial production fell 7.6% over the same month of the previous year in March, down from a revised 2.1% decline in February (previously reported: - 2.5% year-on-year). It was the sharpest contraction since April 2012, and reflects a wider downturn in industrial activity in the Eurozone amid ebbing global momentum. Steep losses in the electricity, gas, steam and air conditioning supply sub-sector led the notable downturn, along with a swing to contraction in manufacturing output. These more than offset a noteworthy acceleration in the mining and quarrying sub-sector.

In seasonally-adjusted, month-on-month terms, industrial output fell 1.3% in March, slighter softer than February’s revised 1.6% drop (previously reported: -1.5% month-on-month). Meanwhile, the annual average variation in industrial output fell to minus 1.5% in March, from minus 0.6% in February.

Met the why particular Consensus Forecast panelists expect industrial production to decline 0.6% in 2019, which is down 0.8 percentage points from last month’s estimate. They see the industrial sector returning to growth in 2020, with output expanding 1.4% in the year.

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 Yield1.16-1.90 %May 13
Exchange Rate1.120.65 %May 13
Stock Market5,070-0.02 %May 13

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