Spain: Industrial production accelerates rapidly in August
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms. The reading was notably above the revised 0.4% increase recorded in July (previously reported: +0.3% year-on-year), the lowest reading since December 2014. The print reflected a broad-based acceleration in all subcomponents, with output of capital goods increasing the most. Annual average variation of industrial production edged up from 2.7% in July to 2.8% in August.
On a monthly basis, industrial production increased 1.4% in working-day adjusted terms in August, which was well above the 0.1% reading registered in July and marked the largest increase in almost a year.
Author: David Ampudia, Economist