Portugal: Industrial production contracts less quickly in December
Latest reading: Industrial production declined 1.9% on a seasonally and calendar-adjusted month-on-month basis in December, following a 3.1% drop in the previous month.
Relative to the previous month’s data, readings in December improved for manufacturing (-2.3% in seasonally and calendar-adjusted month-on-month terms vs -4.1% in November) and mining and quarrying (+7.9% vs -15.5% in November). In contrast, the reading for electricity, gas, steam and air conditioning supply worsened in December (-1.6% vs +6.8% in November).
In seasonally and calendar-adjusted year-on-year terms, industrial production increased 2.3% in December, following a 0.3% increase in the previous month.