2018.06.2908:21:00UTC+00Portugal Industrial Production Declines; Retail Sales Growth Improves

Portugal's industrial production decreased for the first time in five months in May, while retail sales growth accelerated notably, figures from Statistics Portugal showed Friday.

Industrial production fell 2.7 percent year-over-year in May, reversing a 4.3 percent rise in April.

Production in the manufacturing sector contracted 2.2 percent in May from a year ago.

On a monthly basis, industrial production dropped 1.9 percent from April, when it slid by 3.1 percent.

Separately, the statistical office announced that retail sales grew at a faster pace of 5.2 percent yearly in May, following a 1.0 percent gain in the prior month.

Monthly, retail sales rebounded strongly by 4.6 percent in May after a 3.7 percent fall in the prior month.

Another report from the statistical office revealed that the seasonally adjusted unemployment rate edged up to 7.3 percent in May from 7.2 percent in April.

There were 375,600 unemployed people in May, up from 369,400 in the previous month.