Spain: Industrial production growth remains steady in August
Industrial production grew 1.2% year-on-year in seasonally- and calendar-adjusted terms in August, remaining steady from July’s increase (previously reported: +0.5% year-on-year). Nonetheless, annual average industrial output growth ticked down from 2.7% in July to 2.6% in August, an 11-month low.
August’s result reflected moderating growth in the production of capital and intermediate goods as well as a strong rebound in energy output offsetting a slightly larger fall in the production of consumer goods compared to July.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output climbed 0.7% in August, a stronger expansion than the revised 0.1% rise logged in July (previously reported: -0.3% month-on-month).