Spain: Industrial output records quickest growth since August 2022 in March
Industrial output rose 4.5% year-on-year in seasonally and calendar-adjusted terms in March, which was above February’s 0.1% increase. The figure marked the best reading since August 2022. Looking at the details of the release, March’s pickup was broad-based, with the consumer goods, capital goods and intermediate goods sub-sectors all gaining steam.
On a monthly basis, industrial output rose 1.5% in seasonally adjusted terms in March, which was above February’s 0.7% expansion and marking the best result since April 2022. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 2.8%, up from February’s 2.4%.