Portugal: Industrial output growth dips in February
Latest reading: Industrial output increased 4.7% in month-on-month, seasonally and calendar-adjusted terms in February, which was below January’s 5.1% rise. The moderation was largely due to electricity, gas, steam and air conditioning supply output growing at a weaker rate compared to the prior month. More positively, manufacturing output growth gained traction, and mining and quarrying activity rebounded in February.
On a seasonally and calendar-adjusted annual basis, industrial output rebounded, rising 0.9% in February (January: -3.1% yoy s.a.). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at zero, down from January’s plus 0.1% reading.