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Portugal Industrial Production Falls In April; Retail Sales Growth Improves

Portugal's industrial production dropped in April, after rising sharply in the previous month, while retail sales growth accelerated, figures from Statistics Portugal showed Friday.

Industrial production fell 0.5 percent year-over-year in April, in contrast to a 3.8 percent climb in March. In February, production had fallen 1.7 percent.

On a monthly basis, industrial production rose 1.1 percent in April, slower than previous month's 1.7 percent increase. It was the second consecutive monthly rise.

The statistical office also announced that retail sales climbed at a faster pace of 3.5 percent annually in April, following a 1.8 percent growth in March. Sales have been rising since December last year.

Month-on-month, retail sales grew 0.8 percent in April, reversing a 3.4 percent decrease in the preceding month. It was the first increase in three months.

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