FX.co ★ Portugal Industrial Activity Contracts for 4th Month

Portugal’s industrial production declined by 3.8% year-on-year in August 2026, marking the fourth consecutive month of contraction, after an upwardly revised 0.8% drop in July. Energy output fell more sharply, down 4.7% following a 1.3% decrease in July, extending its downturn to a sixth straight month. Production of consumer goods also weakened, contracting 2.6% after a 1.2% decline in the previous month. Within this segment, output of durable consumer goods slumped 6.6%, reversing an 8.6% increase, while production of non-durable goods fell 1.9%, although this represented a slower pace of contraction compared with July’s 2.9% drop. Capital goods registered a steep decline, with output plunging 12.1% after a 2.9% fall in July. By contrast, intermediate goods continued to grow, though at a more modest pace, with output rising 0.6% versus 0.8% in the prior month. On a month-on-month basis, overall industrial production was down 2%, erasing a 0.4% increase recorded in July.