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Financial News: Portugal Retail Sales Growth Improves, Jobless Rate Unchan

Portugal Retail Sales Growth Improves, Jobless Rate Unchanged

09/28/2018 - 07:05:00 (RTTNews)

(RTTNews) - Portugal's retail sales growth improved in August after slowing in the previous two months, while the unemployment rate held steady, figures from Statistics Portugal showed Friday.

Retail sales rose 3.8 percent year-on-year following a 2.2 percent increase in July. Sales growth peaked at 5.8 percent in May.

On a month-on-month basis, retail sales increased 1.1 percent in August, after two months of decline.

Separately, the statistical office reported that the jobless rate held steady at 6.8 percent for a second straight month in August.

A jobless rate lower than this was last observed in September 2002.

Statistics Portugal also announced that industrial production decreased 2.9 percent year-on-year in August after a 1.3 percent fall in July. Production has been declining since May and the latest fall was the worst.

Compared to the previous month, production grew 2.7 percent after a 1.1 percent increase in the previous month.

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