The industrial turnover index in Portugal recorded a year-on-year decline of 1.0% in August 2024, compared to the previous year, new data from INE, the country’s statistics body, found.
This was a 1.9% decline on the previous month.
Excluding energy, industrial sales increased by 0.3% year-on-year in August, although were down 1.9% month-on-month.
The indices for the domestic and foreign markets indicated changes of -1.9% and 0.4%, respectively (-2.2% and -1.3% compared to the previous month).
Industry employment recorded a 0.2% decline, year-on-year, or a 0.1% drop compared to July, while wages were up 6.1% year-on-year, and up 7.1% month on month.
The hours worked in the industrial sector rose by 0.9% in August, following on from a 0.2% increase in July.
Domestic market sales
Domestic market sales dropped by 1.9%, following a 2.2% fall in the previous month, contributing -1.2 percentage points to the overall index, compared to -1.4 points in July.
Intermediate goods decreased by 2.4%, contributing -0.7 percentage points, compared to -0.4 points in July. Investment goods fell by 0.3%, compared to a 6.5% decrease in July, resulting in no significant contribution, compared to -0.8 points in July.
Consumer goods moved from a 2.9% decline in July to a 0.1% increase in August, with no notable contribution in both months.
External market sales
Sales to the external market shifted from a 1.3% decrease in July to a 0.4% increase in August, contributing 0.1 percentage points, compared to -0.5 points the month before.
In terms of industry groups, the energy sector contributed -1.3 percentage points due to a 5.5% decline, compared to a 1.7% decrease in July. Intermediate goods decreased by 1.2% in August after growing 1.0% in July, contributing -0.4 percentage points, compared to a 0.3-point contribution in July.
Consumer goods and investment goods saw increases of 0.4% and 2.8%, respectively, after decreases of 0.4% and 9.6% in July. These sectors together contributed 0.6 percentage points to the total index in August, compared to -1.4 points the previous month. More information here.
