Industrial production falls in February

Latest reading: Industrial production declined 0.2% in calendar and seasonally adjusted month-on-month terms in February, following a 4.1% rise in the previous month. February’s reading was affected by a series of storms that slammed the country in late January and early February, with Leiria—known as a major industrial hub in Portugal—being one of the hardest-hit areas. Relative to the previous month's data, readings in February worsened for manufacturing (-1.2% in calendar and seasonally adjusted month-on-month terms vs +1.6% in January), electricity, gas, steam and air conditioning supply (+8.2% vs +18.7% in January) and mining and quarrying (-14.9% vs +8.7% in January). On a calendar- and seasonally adjusted year-on-year basis, industrial production was down 4.4% in February, following a 0.4% rise in the prior month.

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