Portugal: Industrial output growth wanes in October
Industrial production increased 0.1% year-on-year in October (September: +2.8% yoy). October’s notable slowdown was largely due to a sharper sharp udden drop in manufacturing output. In addition, electricity, gas, steam and air conditioning supply output decelerated.
On a seasonally-adjusted monthly basis, industrial production rebounded, rising 0.7% in October (September: -3.4% mom). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 6.1% in October, up from September’s minus 6.3%.