Spain Industrial production June 2020

Spain

Spain: Industrial output contracts less severely in June

July 6, 2020

Industrial output plunged 14.0% year-on-year in seasonally- and calendar-adjusted terms in June, which was less severe than May’s 24.7% collapse.

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

On a seasonally- and calendar-adjusted monthly basis, factory output grew 14.0% in June, below May’s 14.3% expansion which had marked the strongest increase on record.

FocusEconomics Consensus Forecast panelists see industrial production declining 10.5% in 2020, which is up 0.5 percentage points from last month’s forecast, and growing 6.3% in 2021.


Author:, Economist

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Spain Industry June 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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