Portugal Industrial Production Declines Again in June

Portugal’s industrial production fell 0.7% year-on-year in June 2026, following a revised 1.6% decline in May as the contraction in energy output eased sharply (-1.0% vs. -9.7%). However, production remained weak across most sectors, with declines in durable goods (-1.0%), non-durable goods (-2.5%), and capital goods (-2.9%). In contrast, intermediate goods output accelerated, rising 2.2% after a 0.9% increase in May. On a monthly basis, industrial activity dropped 3.8% in June, marking its largest decline in a year.

Portugal’s industrial production fell 2.3% year-over-year in May 2026, following no change in April, led by energy (-9.7% vs -17.2%), durable consumer goods (-1.5% vs 5.9%), and non-durable consumer goods (-3.1% vs 2.4%). Growth also slowed for intermediate goods (0.8% vs 5.7%) and capital goods (0.3% vs 1.9%). Month-over-month, industrial activity rose 0.9% in May, recovering from a 2.7% drop in April.

Portugal's industrial production stagnated in April 2026 compared to the same month a year earlier, marking a sharp deceleration from an upwardly revised 4.1% growth in March, primarily driven by a 17.2% plunge in energy output, attributed to a decline in electricity production. Excluding energy, industrial production growth slowed to 3.8% from 6.0%. Output growth also softened in other sectors: consumer goods (3.6% vs. 4.4% in March), intermediate goods (4.9% vs. 6.8%), and capital goods (2.1% vs. 7.3%). On a monthly basis, industrial activity declined 2.6% in April, following a revised 4.3% increase in March.