Portugal: Industrial output rebounds sharply in September
Latest reading: Industrial output rebounded in September and expanded 2.6% in month-on-month seasonally adjusted terms, which contrasted August’s 0.1% decrease. September’s figure marked the best reading since March. The figure was largely driven by a notable recovery in manufacturing output. In contrast, electricity, gas, steam and air conditioning supply output swung into contraction, and mining and quarrying lost momentum.
On a seasonally adjusted annual basis, industrial output rose 2.7% in September (August: -1.5% yoy), the best result since April. Moreover, the trend improved notably, with the annual average variation of industrial production coming in at minus 0.4%, up from August’s minus 1.1% reading.