Portugal’s industrial production declined by 2.3% year-on-year in May 2026, after showing no change in April. The contraction was driven mainly by energy output (-9.7% vs. -17.2% in April), durable consumer goods (-1.5% vs. +5.9%), and non-durable consumer goods (-3.1% vs. +2.4%). At the same time, growth in intermediate goods slowed to 0.8% from 5.7%, and in capital goods to 0.3% from 1.9%.
On a monthly basis, industrial production increased by 0.9% in May, rebounding from a 2.7% decline in April.
