Lisbon, Portugal street

Portugal Industrial production December 2023

Portugal: Industrial output deteriorates in December

Industrial production decreased 0.8% month-on-month in seasonally adjusted terms in December (November: +3.7% mom). The reading was largely driven by a deterioration in manufacturing output growth and a strong contraction in electricity, gas, steam and air conditioning supply.

On a seasonally adjusted annual basis, industrial production fell at a quicker rate of 5.0% in December (November: -1.1% yoy). Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 2.8% in December, down from November’s minus 2.3% reading.

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