Spain: Industrial production picks up in August
Industrial production increased 1.7% year-on-year in seasonally- and calendar-adjusted terms in August, up from July’s revised 1.2% rise (previously reported: +0.8% year-on-year). As a result, the annual average variation in industrial output ticked up to minus 0.1% in August from minus 0.2% in July.
August’s quickening largely reflected a rebound in capital goods production and an acceleration in consumer goods output compared to July. Meanwhile, growth in energy production moderated and intermediate goods output declined for the fourth consecutive month.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output rose 0.9% in August, contrasting the revised 0.2% contraction recorded in July (previously reported: -0.4% month-on-month).