Spain: Industrial production picks up in June
August 8, 2019
Industrial production rose 1.8% year-on-year in seasonally- and calendar-adjusted terms in June, accelerating from May’s 1.4% increase. As a result, the annual average variation in industrial output edged up to minus 0.1% in June from minus 0.3% in the previous month.
June’s reading largely reflected a pick-up in capital goods and energy output compared to May. Meanwhile, production of consumer goods slowed and intermediate goods output contracted for the second consecutive month.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output declined 0.2% in June, contrasting the 0.3% rise logged in May.
Author: Javier Colato, Economist