Portugal's industrial production shrank by 5.8 percent in June 2019, marking the eighth consecutive month of contraction and following a downwardly revised 0.4 decline in the previous month. Output dropped for manufacturing (-3.7 percent vs 0.1 percent in May) and for electricity, gas, steam and water supply (-16.0 percent vs -3.0 percent). On the other hand, mining & quarrying production rebounded (6.2 percent vs -2.1 percent). On a monthly basis, industrial production declined 4.5 percent, following a 0.4 percent drop in the previous month. Industrial Production in Portugal averaged -1.01 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 1.90 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.