Portugal: Industrial output growth slides to 10-month low in February
Industrial output expanded 1.8% year on year in seasonally adjusted terms in February (January: +4.7% s.a. yoy). February’s slowdown was partly driven by a deterioration in manufacturing production, as it contracted at the fastest clip since October 2021. Meanwhile, electricity, gas, steam and air conditioning supply production picked up pace.
On a monthly basis, factory output dropped 2.0% in seasonally adjusted terms in February, easing somewhat from January’s 2.1% fall.
Meanwhile, annual average industrial production growth rose to 1.5% in February (January: +1.0%).