Spain: Industrial output grows at a quicker pace in May
Industrial production expanded 3.8% year-on-year in seasonally- and calendar-adjusted terms in May (April: 2.3% yoy). The acceleration was driven by stronger output growth in the production of consumer and capital goods as well as energy. Moreover, intermediate goods rebounded.
On a monthly basis, factory output contracted 0.2% in seasonally-adjusted terms in May, contrasting April’s 2.1% increase. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 2.7% in May, down from April’s 4.2%.