Portugal: Industrial output deteriorates in October
Industrial output decreased 6.7% year-on-year in seasonally-adjusted terms in October, which was a larger contraction than September’s 5.6% decrease. October’s sharper drop was largely due to a bigger decrease in manufacturing production. In addition, electricity, gas, steam and air conditioning supply production fell heavily.
On a monthly basis, industrial output grew 0.5% in seasonally-adjusted terms in October, which was below September’s 1.4% expansion. Meanwhile, annual average industrial production growth fell to 2.1% in October (September: +2.8%). This signals a worsening trend in the industrial sector.