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Portugal Industrial production August 2023

Portugal: Industrial activity dips in August

Industrial output slid 4.0% year on year in seasonally-adjusted terms in August, which followed July’s 2.8% decrease. August’s weakening was largely due to a deterioration in manufacturing production, as it recorded the weakest reading since August 2021. In contrast, electricity, gas, steam and air conditioning supply output improved.

On a monthly basis, industrial output grew 0.7% in seasonally adjusted terms in August, which was above July’s 0.6% expansion.. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.6%, down from July’s minus 1.0% reading.

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