Portugal: Decline in industrial activity softens in June
July 30, 2020
Industrial production decreased 14.6% year-on-year in June (May: -27.3% yoy). The ease from May’s decline was fueled by softer declines in manufacturing and energy. However, production in the extraction industry deteriorated in June after growing in May.
In seasonally-adjusted terms, industrial production rose 11.2% month-on-month in June, accelerating from the 2.7% rise in May. However, the annual average variation of industrial production continued to fall, as it reached minus 7.1% in June (May: minus 6.4%).