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Portugal Industrial production August 2022

Portugal: Industrial output expands at fastest pace since June 2021 in August

Industrial output grew 4.9% year on year in seasonally-adjusted terms in August (July: -0.2% s.a. yoy). The figure marked the best reading since June 2021. The improvement was spearheaded by an acceleration of manufacturing production. Additionally, output in extractive industries rose sharply. That said, production of electricity, gas, steam and air conditioning supply contracted slightly.

On a seasonally adjusted monthly basis, industrial output rebounded, rising 3.0% in August (July: -0.7% mom), the best result since March. Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at minus 0.5% in August, up from July’s minus 1.7%.

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