Portugal: Industrial output rebounds at sharpest pace in over three years in January
Latest reading: Industrial production rose 3.7% month on month in seasonally and calendar-adjusted terms in January (December: -4.2% mom s.a.). January’s result marked the best reading since September 2021. Looking at the details of the release, energy output rebounded sharply, and manufacturing and water supply returned to growth, outweighing a steep decline in mining and quarrying.
On a seasonally and calendar-adjusted annual basis, industrial output fell 4.3% in January (December: -4.9% yoy). Still, the trend deteriorated, with annual average industrial production dropping 0.1% in January, swinging from December’s 0.3% increase.