Industrial production in Portugal increased 3 percent year-on-year in August of 2020, the first gain since February. It also marks the biggest increase in industrial output so far this year, after big plunges from March to July due to the coronavirus crisis. Biggest upward contribution came from energy production (13.6 percent vs -11.3 percent in July), intermediate goods (2 percent vs -8.7 percent) and consumption goods (0.8 percent vs -5.1 percent). In contrast, production of capital goods continued to decline (-1.1 percent vs -14.3 percent). On a monthly basis, industrial production increased 10 percent, the third straight month of double digit gains.
Industrial Production in Portugal averaged -1.41 percent from 2005 until 2020, reaching an all time high of 10.10 percent in August of 2017 and a record low of -28.90 percent in April of 2020. This page provides - Portugal Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Portugal Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Industrial Production in Portugal is expected to be -4.80 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 11.50 in 12 months time. In the long-term, the Portugal Industrial Production is projected to trend around 5.10 percent in 2021 and 2.60 percent in 2022, according to our econometric models.