Portugal Industrial Production Edges Up in November

Portugal’s industrial production growth accelerated to 2.3% year-on-year in December 2025, up from 0.3% in November, marking the strongest pace in three months. Energy output surged 19.0%, reversing two months of declines, while durable consumer goods rose 0.3%, ending a nine-month contraction. Growth slowed for non-durable consumer goods (0.3% vs 1.6% in November) and intermediate goods (2.5% vs 2.8%), and capital goods output fell for a third consecutive month (-4.9% vs -2.1%). On a monthly basis, industrial production declined 1.9% in December, following a 3.1% drop in November.

Portugal’s industrial production rose 0.3% year-on-year in November 2025, rebounding from a 0.4% decline in October, supported by smaller contractions in energy output (-2.8% vs -15.4% in October) and intermediate goods production (-2.2% vs -4.5%). However, growth in other areas softened, with consumer goods output up 0.7% (compared with 2.6% in October) and capital goods rising 2.7% (down from 6.1%). On a monthly basis, industrial production fell sharply by 3% in November, following three consecutive months of expansion.

Portugal's industrial production fell by 0.9% year-on-year in October 2025, reversing an upwardly revised 2.4% increase in the previous month. It marked the first decline since April, as output tumbled sharply for energy (-16.1% vs 15.1% in September), while it continued to fall for capital goods (-4.4% vs -0.9%). On the other hand, production accelerated for intermediate goods (5.5% vs 3%) and rebounded for consumer goods (1.2% vs -1.1%). On a monthly basis, industrial activity slowed to 0.4% in October, from an upwardly revised 0.9% in the previous month.