"The overall result continued to be strongly influenced by the increase in industrial prices, whose variation stood at 24.8% (25.6% in June)," explains INE in a statement on Thursday.
The industrial turnover index in Portugal recorded a year-on-year growth of 24.3% in July, 7.3 percentage points less than in June, continuing to be influenced by the “expressive” increase in industrial prices, according to the country’s national statistics institute (INE).
“The overall result continued to be strongly influenced by the increase in industrial prices, whose variation stood at 24.8% (25.6% in June),” explains INE in a statement on Thursday.
Excluding the Energy grouping, industrial sales increased by 16.6% (24.4% in June).
The sales index for the domestic market grew 22.6% (27.3% in June), contributing 13.1 percentage points (p.p.) (15.8 p.p. in June) to the change in the total index.
Sales to the external market grew 26.6% (37.6% in the previous month), contributing with 11.2 p.p. (15.8 p.p. in June).
By groupings, ‘energy’ made the most significant contribution to the change in the total index, up 10.9 p.p., as a result of the 54.9% growth (60.4% in June).
Intermediate goods’ and ‘Consumer goods’ increased by 18.5% and 16.2% (23.9% and 15.7% in the previous month), contributing 6.8 p.p. and 4.6 p.p., respectively.
The ‘investment goods’, in turn, had an increase of 130%, after the 43.5% increase in the previous month, contributing with 1.9 percentage points.
In monthly terms, the industrial turnover index rose by 1.1% in July this year, up from 0.6% in the previous month.
The year-on-year increases in employment, compensation and hours worked stood at 2.9%, 6.8% and 1.7% in July, against increases of 2.9%, 6.6% and 2.6% in the previous month, in the same order.