Portugal: Industrial production falls at softer clip in July
Latest reading: Industrial production fell 1.5% in a calendar and seasonally adjusted month-on-month terms in July, following a 3.7% drop in the previous month.
Relative to the previous month’s data, production readings in July improved for electricity, gas, steam and air conditioning supply (+1.1% vs -20.3% in June) and mining and quarrying (+17.8% vs -3.1% in June). In contrast, the reading for manufacturing worsened in July (-2.4% vs -0.4% in June).
On a calendar and seasonally adjusted month-on-month basis, industrial production increased 2.3% in July, following a 3.0% increase in the prior month.