Portugal: Industrial output rebounds in March
Industrial output increased 5.0% year-on-year in seasonally-adjusted terms in March, which contrasted February’s 2.8% decrease. March’s result marked the best result since August 2017. March’s recovery largely reflected rebounds in manufacturing and extractive industries output.
On a seasonally-adjusted monthly basis, factory output fell 0.9% in March (February: +1.1% mom sa). Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at minus 7.0% in March, up from February’s minus 8.0% reading.