Portugal: Industrial production declines further in February
March 30, 2012
In February, industrial production contracted 6.8% over the same month last year, which was down from the 5.4% drop observed in the previous month. The decline was broad-based, as all sub-categories composing the index recorded contractions over the same month last year. On a monthly basis, industrial production added 0.8% in seasonally and working-day adjusted terms, which was above the 0.1% rise recorded in January. As a result of the February decline, the trend continues to point downwards, with annual average growth in industrial production stepping down from minus 2.4% in January to minus 3.2%.