Portugal: Industrial output falls in September
October 29, 2021
Industrial production dropped 5.4% year-on-year in seasonally-adjusted terms in September (August: -9.6% yoy s.a.). September's smaller drop was largely driven by a softer fall in manufacturing output, although semiconductor shortages continued to weigh on auto production. In addition, electricity, gas, steam and air conditioning supply production fell at a softer pace.
On a monthly basis, factory output grew 1.6% in seasonally-adjusted terms in September, rebounding from August’s 1.9% fall. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at plus 2.8% in September, down from August's 3.6% reading.