Industrial production · Portugal
Portugal Industrial Production MoM
The Portugal Industrial Production MoM measures the output of factories, mines and utilities in Portugal (or of one industry).
- Importance
- Low
- Released
- Monthly
- Next release
- Currency
- EUR · euro
- Central bank
- The European Central Bank (with the Banco de Portugal)
Latest figures
The latest release for SEP, published on 2 November 2026, came in at 2.4%, up from -2.2% the time before (revised).
Over the last 12 releases it ranged from -3.8% to 4.2%, averaging -0.2%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 2 Nov 2026 | SEP | 2.4% | – | -2.2% ® |
| 1 Oct 2026 | AUG | -2.0% | – | -0.4% ® |
| 1 Sep 2026 | JUL | -0.3% | – | -4.2% ® |
| 31 Jul 2026 | JUN | -3.8% | – | 1% ® |
| 1 Jul 2026 | MAY | 0.9% | – | -2.7% ® |
| 1 Jun 2026 | APR | -2.6% | – | 4.3% ® |
| 4 May 2026 | MAR | 3.2% | – | -0.3% ® |
| 31 Mar 2026 | FEB | -0.2% | – | 4.1% ® |
| 2 Mar 2026 | JAN | 4.2% | – | -2.2% ® |
| 2 Feb 2026 | DEC | -1.9% | – | -3.1% ® |
| 6 Jan 2026 | NOV | -3% | – | 0.8% ® |
| 3 Dec 2025 | OCT | 0.4% | – | 0.9% ® |
Why it matters
Industry is a smaller share of output than services in most rich economies but it is far more cyclical and reacts first to global demand. Strong production supports growth estimates; capacity utilisation near its limits points to inflation pressure.
How it is calculated
Statistics Portugal (INE) combines physical output and deflated sales data for many industries into a volume index, adjusted for working days and seasons. Capacity utilisation divides output by estimated maximum output.
Change (mom) = index ÷ last month's index − 1
Capacity utilisation = output ÷ capacity × 100What changes mean
- Monthly changes are noisy (weather, holidays, strikes); compare with the year-on-year rate.
- In Germany, Japan, Korea and China industry carries more weight for the currency.
Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the euro and local stocks, and can push bond yields up.
Lower than expected: A weaker figure than expected points to slowing activity: the euro tends to soften and markets price in lower rates.
A short history
The US Federal Reserve has published its industrial production index since 1919; it is one of the series used to date US business cycles.
Questions
What is the Portugal Industrial Production MoM?
The Portugal Industrial Production MoM measures the output of factories, mines and utilities in Portugal (or of one industry).
What was the latest Portugal Industrial Production MoM?
2.4% for SEP, published on 2 November 2026.
When is the next Portugal Industrial Production MoM?
On Wednesday 2 December 2026 at 11:00 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.