Portugal: Industrial output deteriorates in June
Latest reading: Industrial production dropped 3.6% month-on-month in seasonally adjusted terms in June (May: +2.2% mom s.a.). The reading reflected a broad-based downturn across the major sectors, with manufacturing, plus electricity, gas, steam and air conditioning supply, and mining and quarrying all contracting in June.
On an annual basis, industrial output increased 2.9% in seasonally adjusted terms in June, which was below May’s 3.0% expansion. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 0.4% in June, up from May’s minus 0.9%.