Spain Industrial production July 2020

Spain

Spain: Industrial activity drops at a softer pace in July

September 11, 2020

Industrial production fell 6.4% year-on-year in seasonally- and calendar-adjusted terms in July, following June’s 14.3% drop. July’s reading marked the softest decline since February.

July’s smaller contraction reflected a broad-based improvement across all the major sub-sectors: Output of consumer, capital and intermediate goods as well as energy production all declined less than in June.

On a seasonally- and calendar-adjusted monthly basis, factory output rose at a more moderate pace of 9.4% in July (June: +13.6% mom).

FocusEconomics Consensus Forecast panelists see industrial production declining 12.4% in 2020 and growing 7.9% in 2021.


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Spain Industry July 20 20

Note: Year-on-year and annual average variation of seasonal-and calendar-adjusted industrial production index in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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