Portugal: Industrial production contracts in June
July 30, 2014
In June, industrial production fell 0.2% over the same month last year. The reading, which contrasted the revised 0.2% rise recorded in May (previously reported: -0.1% year-on-year), was mainly driven by the deceleration seen in manufacturing production. Conversely, the mining sector and the electricity, gas and water production sector continued to contract, although at a softer pace in June.
Compared to the previous month, industrial output decreased 0.5% in seasonally- and working-day adjusted terms, which was up from the revised 1.8% contraction tallied in May (previously reported: -2.2% month-on-month). Following the negative year-on-year reading, annual average growth in industrial output inched down from 1.5% in May to 1.4% in June.