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Portugal Industrial production January 2024

Portugal: Industrial output recovers in January

Industrial output rebounded in January, expanding 1.4% in month-on-month seasonally adjusted terms and contrasting December’s 1.1% decrease. Looking at the details of the release, the reading chiefly reflected a recovery in electricity, gas, steam and air conditioning supply production, which more than offset weaker manufacturing activity and a fall in mining and quarrying production.

On an annual basis, factory output fell at a softer rate of 1.3% in January (December: -4.8% yoy). That said, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.2% in January, down from December’s minus 2.8%.

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