Spain: Industrial production falls at a milder pace in February ahead of coronavirus blow
Industrial production declined 1.3% year-on-year in seasonally- and calendar-adjusted terms in February, following January’s revised 2.2% drop (previously reported: -2.1% year-on-year) which had marked the sharpest contraction in nearly a year. Annual average growth in industrial output fell from 0.3% in January to 0.2% in February.
February’s milder fall reflected softer downturns in the production of consumer and intermediate goods, as well as of energy output. Meanwhile, capital goods production dropped at a steeper rate compared to the previous month.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output stagnated in February, following the 0.2% slip logged in January.