Portugal: Industrial output collapses again in May
June 30, 2020
Industrial output collapsed 26.0% year-on-year in May, which followed the record-breaking 27.4% plunge in April. The downturn was primarily driven by plummeting manufacturing output. Production in extractive industry, meanwhile, rebounded compared to April.
In seasonally-adjusted month-on-month terms, industrial production grew 2.5% in May, rebounding from April’s 19.3% crash. Lastly, the annual average variation in industrial output fell to minus 6.1% from minus 3.9% in the previous month.
Author: Javier Colato, Economist