Portugal: Industrial production growth slows in February
Industrial production pushed 1.0% higher in February over the same month of the previous year, but decelerated from a revised 2.3% rise in January (previously reported: +2.0% year-on-year). The reading was dragged on by slowing energy output and production of consumer goods, with a detailed sector-by-sector analysis yet to be released.
In seasonally-adjusted month-on-month terms, industrial production shrank 2.8% in February, contrasting January’s 0.5% uptick, and marking the worst result since June 2019. Lastly, the annual average variation in industrial output fell 1.8% in February, softening marginally from the 2.0% decrease recorded in the previous month.