Spain Industrial production August 2020

Spain

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.

FocusEconomics Consensus Forecast panelists see industrial production declining 12.5% in 2020 and growing 6.6% in 2021.


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Spain Industry August 20 20

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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