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FX.co ★ Portugal Industrial Production Falls 4.0%

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typeContent_19130:::2023-10-03T11:21:00

Portugal Industrial Production Falls 4.0%

Portugal's industrial production declined for the sixth straight month in August, led by a sharp fall in manufacturing output, figures from Statistics Portugal showed on Tuesday.

Industrial production dropped 4.0 percent year-on-year in August, which was worse than the 2.8 percent decrease in July.

Excluding energy, industrial output fell 5.2 percent in August compared to a 3.3 percent decline in the prior month.

Manufacturing production alone contracted 5.5 percent, while mining and quarrying output advanced 7.3 percent.

Among large industrial groups, production in the intermediate goods sector plunged 8.3 percent from last year, while that in the energy segment showed a rebound of 2.5 percent.

On a monthly basis, industrial production increased 0.7 percent versus a 0.6 percent rise in the preceding month.

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