Portugal: Industrial output growth moderates in June
July 31, 2021
Industrial production rose 10.4% year-on-year in seasonally-adjusted terms in June (May: +26.6% s.a. yoy). June's slowdown was partly driven by a deterioration in manufacturing output as last month’s favorable base effect faded out.
On a monthly basis, factory output dropped 2.5% in seasonally-adjusted terms in June, a smaller drop than May’s 4.8% fall. Meanwhile, annual average industrial production growth rose to 5.3% in June (May: +3.2%), signaling an improving trend in the industrial sector.