Spain: Industrial production dips at softer pace in August
October 7, 2020
Industrial production declined 5.7% year-on-year in seasonally- and calendar-adjusted terms in August, less severely than July’s 6.2% drop. August’s reading marked the softest fall since February and the eighth consecutive month of contraction.
August’s moderation was driven by milder declines of capital and intermediate goods output as well as of energy production. Consumer goods output, on the other hand, contracted at a sharper pace than in July.
On a seasonally- and calendar-adjusted monthly basis, factory output rose only a meager 0.4% in August, down significantly from July’s 9.6% surge.