SYNTHESIS INE@COVID-19, 8-Sept -2020

www.ine.pt page 8/10 September . 08. 2020 SYNTH SIS IN @ COVID-19 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt Industrial Production Index (Year-on-year rate of change) Total In July, the Industrial Production Index registered a year-on-year rate of change of -9.6% In July, the Industrial Production Index (IPI) year-on-year rate of change was -9.6% (-14.6% in the previous month). -9.6% -35.0% -30.0% -25.0% -20.0% -15.0% -10.0% -5.0% 0.0% 5.0% Jul-19 Sep-19 Nov-19 Jan-20 Mar-20 May-20 Jul-20 Exports and Imports, in real terms, decreased by 39.5% and 29.9%, respectively Exports of Goods and Services, in real terms, registered a year-on-year rate of change of -39.5% (-5.1% in the previous quarter). For this evolution, it is worth mentioning the more pronounced decrease in exports of services, with a rate of change of -54.5% (-8.9% in the previous quarter), mainly as a result of the strong contraction of tourism activity. Goods exports also decreased, shifting from a year-on-year rate of change of -3.3% to -32.6% in the second quarter. In the second quarter, Imports of Goods and Services, in volume, fell by 29.9%, after recording a year-on-year rate of change -2.5% in the first quarter. The goods component decreased by 28.9% and imports of services presented a rate of -34.8% (-2.0% and -5.3% in the previous quarter, respectively) Comparing with the previous quarter, total exports and imports decreased by 36.1% and by 28.1% respectively (-7.3% and -3.7% in the previous quarter, in the same order). Employment decreased by 3,6% In the second quarter, seasonally adjusted employment registered a year-on-year rate of change of -3.6% (-0.5% in the previous quarter). The number of employees (seasonally adjusted) decreased by 3.3%, in year-on-year terms, in the second quarter oif 2020 (+0.7% in the first quarter). More information available at: Quarterly national accounts (31 August 2020)