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Spain Industrial production May 2024

Spain: Industrial activity dips in May

Industrial production fell 0.1% month-on-month in seasonally adjusted terms in May (April: +0.2% mom). Looking at the details of the release, consumer goods production contracted at a softer rate in May, while capital goods output swung to contraction. More positively, intermediate goods output grew at a stronger pace.

On a seasonally and calendar adjusted annual basis, industrial output rose at a quicker rate of 0.4% in May (April: +0.2% yoy). Moreover, the trend improved, with the annual average variation of industrial production coming in at minus 1.0% in May, up from April’s minus 1.2% reading.

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