Portugal's industrial production shrank 7.6 percent from a year earlier in March 2019, the most since April 2012, after a revised 2.1 percent contraction in the previous month. Electricity, gas, steam and water supply fell the most (-32 percent vs -16 percent in February), followed by manufacturing production (-1.9 percent vs 0.4 percent). By contrast, mining and quarrying output rose at a faster pace (9.2 percent vs 2.8 percent). On a monthly basis, industrial output declined 1.3 percent, following a 1.6 percent drop in February. Industrial Production in Portugal averaged -0.99 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 -2.20 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 2.00 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.