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Portugal Industrial production February 2023

Portugal: Industrial output growth slides to 10-month low in February

Industrial output expanded 1.8% year on year in seasonally adjusted terms in February (January: +4.7% s.a. yoy). February’s slowdown was partly driven by a deterioration in manufacturing production, as it contracted at the fastest clip since October 2021. Meanwhile, electricity, gas, steam and air conditioning supply production picked up pace.

On a monthly basis, factory output dropped 2.0% in seasonally adjusted terms in February, easing somewhat from January’s 2.1% fall.

Meanwhile, annual average industrial production growth rose to 1.5% in February (January: +1.0%).

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