Portugal's industrial production dropped 4.8 percent from a year earlier in August 2019, compared to a revised 2.4 percent contraction in the previous month as both utilities (-20.0 percent vs -11.6 percent) and manufacturing (-1.7 percent vs -0.4 percent) declined. By contrast, mining output jumped 15.9 percent, compared to a 1 percent decline in July. On a monthly basis, industrial output shrank 1 percent, after a 4.6 percent surge in July. Industrial Production in Portugal averaged -1.03 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 0.50 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 1.40 in 12 months time. In the long-term, the Portugal Industrial Production is projected to trend around 1.60 percent in 2020, according to our econometric models.