Spain Industrial production August 2021


Spain: Industrial output records lowest growth since February in August

October 7, 2021

Industrial output grew 1.8% year-on-year in seasonally- and calendar-adjusted terms in August, which was a deterioration from July's 3.3% increase. The figure marked the worst reading since February. August's notable downturn was primarily driven by easing consumer goods and intermediate goods output.

On a seasonally- and calendar-adjusted monthly basis, industrial production fell at a more moderate rate of 0.2% in August (July: -1.1% mom). Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at plus 5.7%, up from July's 5.0%.

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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