Portugal’s industrial production growth slowed to 2.0% year-on-year in September 2025, down from a revised 3.0% in August. Production of capital goods decelerated sharply to 0.1% from 7.1%, while energy output edged down slightly to 15.3% from 15.5%. Consumer goods production continued to contract, falling 3.5% compared with a 2.9% decline in August. In contrast, intermediate goods output picked up, rising 2.9% after a 0.9% gain in the previous month. On a monthly basis, industrial production increased 0.6% in September, following a 1.1% rise in August.