Portugal Industrial Production2005-2021 Data | 2022-2023 Forecast | Calendar

Industrial production in Portugal edged up 0.5% year-on-year in July of 2021, the smallest gain in the current sequence of 5 months of growth. Production declined for consumption goods (-6%) and energy (-1%) and slowed for intermediate goods (7.8%). In contrast, production rebounded for investment goods (1.7%). Compared to June, industrial output increased 3.4%, the biggest gain since August of 2020.

Industrial production in Portugal surged 27.1 percent year-on-year in May of 2021, following a record 37.3 percent rise in the previous month, amid low base effects from last year when the coronavirus pandemic hit the economy hard. Double-digit increases were seen in production of durable goods (68 percent), nondurables (26.7 percent), intermediate goods (30 percent), energy (18.1 percent) and investment goods (23.5 percent). On a monthly basis, industrial output fell 4.5 percent.

Industrial production in Portugal soared by 36.9 percent year-on-year in April of 2021, following an upwardly revised 5.7 percent jump in the previous month. It is the highest industrial output growth ever, amid low base effects from last year’s pandemic outbreak. Industrial output plunged 29.7 percent in April of 2020. All industrial groups recorded sound increases in production: durable consumption goods (169.0 percent vs 50.9 percent in March); non-durable consumption goods (40.7 percent vs 0.1 percent); capital goods (72.0 percent vs 12.7 percent); intermediate goods (31.2 percent vs 7.3 percent) and at last energy production (11.1 percent vs 0.4 percent). On a seasonally adjusted monthly basis, industrial activity advanced 0.5 percent, after an upwardly revised 0.7 drop in March.

Industrial production in Portugal jumped 5.0 percent year-on-year in March of 2021, following an upwardly revised 2.8 percent fall in the previous month, as lockdown restriction started to be lifted after the immense surge in infections earlier this year. It was the highest growth rate since August of 2017, as output rebounded significantly for both intermediate goods (8.3 percent vs -2.8 percent in February), capital goods (7.6 percent vs -9.1 percent), and for consumption goods (3.5 percent vs -9.3 percent). Regarding the latter, it is relevant to distinguish that production increased greatly for durable goods (44.8 percent vs -4.2 percent), while for non-durables it has just flattened (-0.2 percent vs -9.9 percent). Lastly, energy production has stabilized after soaring in the previous month (0.3 percent vs 16.1 percent). On a seasonally adjusted monthly basis, industrial activity declined 0.9 percent, after a downwardly revised 1.1 increase in February.