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Financial News: Portugal Industrial Production Falls Further; Retail Sales

Portugal Industrial Production Falls Further; Retail Sales Growth Slows

07/30/2018 - 07:07:00 (RTTNews)

(RTTNews) - Portugal's industrial production declined for the second straight month in June, while retail sales grew at a slower pace, figures from Statistics Portugal showed Monday.

Industrial production fell 0.9 percent year-over-year in June, but below the 2.6 percent decline seen in May.

Production in the manufacturing sector contracted 1.5 percent in June from a year earlier.

On a monthly basis, industrial production recovered 1.1 percent from May, when it slid by 2.0 percent.

Separately, the statistical office announced that retail sales rose at a weaker pace of 3.3 percent annually in June, following a 5.6 percent growth in the prior month.

Monthly, retail sales dropped 1.2 percent in June after a 4.7 percent gain the preceding month.

Another report from the statistical office revealed that the seasonally adjusted unemployment rate dropped to 6.7 percent in June from 7.0 percent a month ago.

There were 347,100 unemployed people in June, down from 362,800 in the previous month.

The statistical office also announced that the consumer confidence index weakened to 1.3 in July from 2.8 in June.

Meanwhile, the economic sentiment indicator strengthened from 2.4 in June to 2.5 in July, which was the highest score since May 2002.

In July, confidence indicators increased in manufacturing and services, and decreased slightly in construction and public works and in commerce.

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