Portugal: Contraction of industrial sector eases in October
November 29, 2019
Industrial production fell 2.4% over the same month of the previous year, following a 5.5% year-on-year drop in September. There was an across-the-board improvement in the sub-sectors: Mining production rebounded, while the decline in manufacturing output and the supply of electricity, gas, steam and air conditioning softened.
In seasonally-adjusted, month-on-month terms, industrial production returned to growth in October, rising 3.0% (September: -2.6% month-on-month). Lastly, the annual average variation in industrial output fell to minus 3.1% in October from minus 2.9% in September.
Author: Nihad Ahmed, Economist