Portugal: Industrial production rebounds mildly in November
Industrial production inched up 0.2% in November over the same month of the previous year, following a revised 2.3% year-on-year drop in October (previously reported: -2.4% year-on-year). The reading reflected an improvement in each of the sub-sectors: Mining production continued its recovery, the supply of electricity, gas, steam and air conditioning rebounded, and the decline in manufacturing output softened.
In seasonally-adjusted month-on-month terms, industrial production fell 0.6% in November, contrasting October’s 3.0% rise. Lastly, the annual average variation in industrial output fell 2.8% in November, marginally less than the 3.1% drop recorded in October.