Spain: Industrial output growth improves in March
Latest reading: Industrial production rose 0.9% month-on-month in seasonally adjusted terms in March (February: +0.7% s.a. mom). Looking at the details of the release, capital goods output accelerated while intermediate goods production rebounded. That said, consumer goods output dropped at a faster pace in March.
On a seasonally and calendar adjusted annual basis, industrial output rebounded, rising 1.0% in March (February: -1.9% s.a. yoy). Accordingly, the trend improved modestly, with the annual average variation of industrial production coming in at 0.1% in March, contrasting February’s minus 0.1%.