Spain: Industrial activity records largest contracts in two years in April
Industrial output fell 0.9% year-on-year in seasonally and calendar-adjusted terms in April, which contrasted March’s 4.1% increase. April’s result marked the worst reading since February 2021. April’s notable downturn largely reflected contractions in consumer goods and intermediate goods output.
On a monthly basis, industrial production declined 1.8% in seasonally adjusted terms in April, contrasting March’s 1.3% expansion and marking the worst result since March 2022. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 2.5%, down from March’s 2.8%.