Industrial production in Portugal declined 2.5 percent year-on-year in February of 2019, following an upwardly revised 3.3 percent fall in January. It is the fourth consecutive annual decrease in industrial activity, due to a drop in utilities (-17.7 percent compared to -3.9 percent in January) and a slowdown in mining (1.4 percent compared to 2.7 percent). On the other hand, manufacturing edged up 0.2 percent, the first rise in a year. On a monthly basis, industrial output declined 1.5 percent, after a 1.2 percent rise in January. Industrial Production in Portugal averaged -0.97 percent from 2005 until 2019, reaching an all time high of 10.10 percent in August of 2017 and a record low of -18.20 percent in January of 2009.
Industrial Production in Portugal is expected to be -1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Portugal to stand at 1.50 in 12 months time. In the long-term, the Portugal Industrial Production is projected to trend around 1.90 percent in 2020, according to our econometric models.