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Portugal: Industrial output recovers tepidly in April
Latest reading: Industrial output rebounded by 1.2% month on month in seasonally adjusted terms in April, contrasting March’s 3.9% contraction. April’s reading was largely driven by recovering output for manufacturing plus mining and quarrying. Less positively, energy supply growth plummeted.
On a seasonally adjusted annual basis, industrial output fell at a softer pace of 2.2% in seasonally adjusted terms in April, improving from March’s 5.4% decline. Still, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.0% in April, deteriorating from March’s 0.3% fall.
