Lisbon, Portugal street

Portugal Industrial production May 2021

Portugal: Industrial output growth eases in May

Industrial output grew 27.1% year-on-year in seasonally-adjusted terms in May (April: +37.3% s.a. yoy). The slower growth was primarily due to decelerating manufacturing and electricity, gas, steam and air conditioning supply production.

On a seasonally-adjusted monthly basis, industrial production fell 4.5% in May (April: +0.5% mom), the worst result since November 2020. Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at plus 3.3%, contrasting April’s minus 1.3% reading.

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