Spain: Industrial production eases in July
September 11, 2019
Industrial production rose 0.8% year-on-year in seasonally- and calendar-adjusted terms in July, moderating from June’s 1.6% increase. Despite the upturn, the annual average variation in industrial output held steady at minus 0.2% in July.
July’s reading largely reflected a swing to contraction of capital goods production after growing solidly in June. Meanwhile, consumer goods and energy output picked up in July, while the production of intermediate goods fell for the third consecutive month.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output declined 0.4% in July, following the 0.2% dip logged in June.
Author: Javier Colato, Economist