Spain: Industrial output growth deteriorates in March
Industrial production expanded 0.1% year-on-year in seasonally- and calendar-adjusted terms in March (February: +2.8%). The notable slowdown was partly due to a deterioration in consumer goods output growth, as it recorded the weakest reading since February 2021. In addition, capital goods production fell.
On a monthly basis, factory output fell 1.8% in seasonally-adjusted terms in March, contrasting February’s 0.9% expansion and marking the worst result since May 2021. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 7.0% in March, down from February’s 8.1%.