Spain: Industrial production decelerates further in May
July 7, 2016
In May, industrial production rose 1.0% over the same month last year in working-day adjusted terms, which was below the revised 2.6% increase tallied in April (previously reported: +2.7% year-on-year). The print reflected a contraction in the production of intermediate goods and a deceleration in the production of capital and consumer goods. Annual average variation of industrial production edged down from 3.6% in April to 3.4% in May.
On a monthly basis, industrial production in May dropped 0.5% in working-day adjusted terms. The reading followed the 0.1% decrease tallied in April.
Author: Dirina Mançellari, Senior Economist