Portugal: Industrial output rebounds in May
July 21, 2022
Industrial output rose 3.0% year-on-year in seasonally-adjusted terms in May, which contrasted April's 1.3% decrease. Looking at the details of the release, manufacturing output rebounded in May, and the contraction in electricity, gas, steam and air conditioning supply output softened.
On a monthly basis, factory output fell 0.6% in seasonally-adjusted terms in May, following April’s 2.1% contraction. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at minus 1.2%, down from April's 0.2%.