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Portuguese Industrial Output Falls For Fourth Month

3/30/2012 6:16 AM ET

Portugal's industrial production decreased for the fourth consecutive month in February, and the rate of growth accelerated from the previous month, data released by Statistics Portugal showed Friday.

Industrial output decreased 6.8 percent on an annual basis in February, faster than the 5.4 percent decrease recorded in January.

Output in the Portuguese manufacturing sector dropped 2.4 percent from last year in February, while mining and quarrying production plunged 10.9 percent.

Consumer goods production fell 6.4 percent annually, while intermediate goods production dropped 3.8 percent. There was a 2.6 percent year-on-year decrease in production in the investment goods industry, and a 16.7 percent fall in output of energy products during the month.

Month-on-month, industrial production edged up 0.8 percent in February, after rising 0.1 percent in the previous month.

by RTT Staff Writer

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