Industrial production diverged in Portugal and Brazil in July 2026. Portugal’s output fell 1.4% year on year for a third consecutive monthly contraction and declined 0.3% from June, while Brazil’s production rose 0.2% month over month after two declines but fell 0.5% from July 2025. Portugal’s energy and non-durable-goods output weakened, although durable-goods production rebounded 8.1%; in Brazil, durable consumer goods and capital goods led gains, and year-to-date output increased 1.1%.