Portugal: Industrial output deteriorates in July
Industrial output fell 0.1% year on year in seasonally-adjusted terms in July (June: +3.9% s.a. yoy). The result was largely driven by weaker manufacturing output growth. In addition, extractive industries and energy output contracted heavily.
On a monthly basis, industrial output dropped 0.4% in seasonally-adjusted terms in July, a smaller decrease than June’s 1.4% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.8%, down from June’s minus 1.7%.