Portugal: Decline in industrial activity softens in July
September 1, 2020
Industrial output decreased 9.6% year-on-year in July (June: -14.6% yoy). The milder fall comes on softer overall declines in manufacturing, and electricity, steam and water supply output.
In seasonally adjusted terms, industrial production rose 11.9% month-on-month in July, after growing 11.0% in June. However, the annual average variation of industrial production continued to fall, as it reached minus 7.8% in July (June: minus 7.1%).
Author: Frederico Teixeira de Abreu, Junior Economist