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Portugal Industrial Production Rebounds Sharply

Portugal's industrial production expanded strongly in May, after falling in the previous month, figures from Statistics Portugal showed on Friday.

Industrial production climbed 3.0 percent year-on-year in May, reversing a 1.3 percent decrease in April.

Moreover, this was the biggest increase since June last year, when output had surged 10.9 percent.

Among sectors, manufacturing production grew 3.9 percent annually in May and mining output registered a double-digit growth of 12.3 percent. Meanwhile, output in the utility sector declined 3.1 percent.

Excluding energy, output also rebounded markedly by 4.6 percent in May compared to a 0.6 percent fall in the prior month.

On a monthly basis, industrial production fell at a slower rate of 0.6 percent in May, after a 2.1 percent decrease in April.

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