Portugal: Industrial output growth falls to four-month low in February
Industrial output rose 0.4% in month-on-month seasonally adjusted terms in February, which was down from January’s 1.4% increase. Looking at the details of the relase, the weakening was largely driven by manufacturing output growth waning. Moreover, electricity, gas, steam and air conditioning supply slipped into contraction nearly offsetting a rebound in mining and quarrying.
On an annual basis, factory output grew 1.0% in seasonally adjusted terms in February, rebounding from January’s 1.3% fall and marking the best result in a year. That said, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.3%, down from January’s minus 3.2%.