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Financial News: Portugal Industrial Output Expand At Slower Pace

Portugal Industrial Output Expand At Slower Pace

07/02/2024 - 08:39:00 (RTTNews)

(RTTNews) - Portugal's industrial production increased for the fourth straight month in May, though at a weaker pace compared with the previous three months, figures from Statistics Portugal showed on Tuesday.

Industrial production rose 0.9 percent year-on-year in May, much slower than the 5.6 percent growth in April.

Excluding energy, industrial output fell 1.1 percent in May, compared to a 0.5 percent decrease in the prior month.

Among large industrial groups, production in the energy segment showed a sharp growth of 13.4 percent, but the pace of growth eased considerably from 47.9 percent. Meanwhile, the intermediate goods sector fell 1.8 percent from last year, and that of investment goods slid by 1.6 percent.

On a monthly basis, the decline in industrial production deepened to 3.2 percent from 2.2 percent.

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