Spain: Industrial production jumps on low-base effect in April
June 7, 2021
Industrial production skyrocketed 48.2% year-on-year in seasonally- and calendar-adjusted terms in April, after jumping 12.9% in March. The reading benefited from an extremely low-base effect due to the Covid-19 pandemic.
April’s result reflected a sharp acceleration in growth of production of intermediate goods and capital goods as well as faster expansions in consumer goods production and energy output.
On a seasonally- and calendar-adjusted monthly basis, factory output grew 1.2% in April, following March’s 0.6% uptick. Lastly, the trend improved notably, with the annual average variation of industrial production coming in at minus 0.2%, up from minus 7.1% in the previous month.