Portugal's industrial production shrank by 2.9 percent in November 2018, marking the seventh consecutive month of contraction and following a downwardly revised 0.1 decline in the previous month. Manufacturing production dropped 4.9 percent (vs -1.5 percent in October), while utilities output advanced 6.2 percent, the same pace as in October, and mining grew 20.9 percent (vs 15.7 percent in October). On a monthly basis, industrial production declined by 2.4 percent in November, after a 0.5 percent drop in October. Industrial Production in Portugal averaged -0.95 percent from 2005 until 2018, 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 2.80 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 2.70 in 12 months time. In the long-term, the Portugal Industrial Production is projected to trend around 2.40 percent in 2020, according to our econometric models.