Spain Industrial production July 2021

Spain

Spain: Industrial output growth deteriorates in July

September 10, 2021

Industrial output grew 3.4% year-on-year in seasonally- and calendar-adjusted terms in July, which was a deterioration from June’s 11.0% increase. The notable deterioration came on the back of easing consumer goods and intermediate goods production growth as well as by downturns in the production of capital goods and energy.

On a seasonally- and calendar-adjusted monthly basis, industrial production fell 1.1% in July (June: -1.1% mom), the joint-worst result since April 2020. Meanwhile, annual average industrial production growth rose to 5.1% in July (June: +4.2%).

FocusEconomics Consensus Forecast panelists see industrial production increasing 8.0% in 2021 and 4.2% in 2022.


Author: Massimo Bassetti, Senior Economist

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Spain Industry July 2021

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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