FX.co ★ Portugal Industrial Output Growth Slows in January

Portugal’s industrial output growth eased to 1.2% year-on-year in January 2026, down from a downwardly revised 1.7% in December. The slowdown reflected more moderate expansions in intermediate goods (1.6% vs 2.3%) and energy (11.4% vs 19.0%), while contractions continued in consumer goods (-2.5% vs -0.5%) and capital goods (-1.4% vs -6.0%). On a month-on-month basis, however, industrial production rebounded by 4.2% in January after two consecutive months of steep declines.