Spain: Industrial activity deteriorates in August
Industrial output dropped 3.4% year-on-year in seasonally and calendar-adjusted terms in August, which was a larger contraction than July’s 2.2% decrease. The reading reflected a broad-based downturn across the major sectors, with consumer goods, capital goods and intermediate goods all contracting in August.
On a seasonally and calendar adjusted monthly basis, industrial production fell 0.8% in August (July: +0.1% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over two-year low of minus 0.1% in August, contrasting July’s plus 0.6%.