Portugal: Industrial output drops at sharpest rate since August 2021 in April
Industrial output sank 7.0% year on year in seasonally-adjusted terms in April, which was a larger contraction than March’s 3.6% decrease. The figure marked the worst reading since August 2021. The downturn came on the back of a sharper contraction in manufacturing output. In addition, extractive industries production lost pace.
Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 0.6% in April, down from March’s 1.0% reading.
On a monthly basis, factory output dropped 5.6% in seasonally adjusted terms in April, which was well greater than March’s 0.3% fall, and marked the worst result since April 2020.