Spain: Industrial production rebounds in April
June 5, 2019
Industrial production rose 1.7% year-on-year in seasonally- and calendar-adjusted terms in April, rebounding from March’s revised 3.0% contraction (previously reported: -3.1% year-on-year). Despite the upturn, the annual average variation in industrial output remained at minus 0.3% in April, which had turned negative for the first time in five years last month.
April’s increase reflected improved dynamics in most major sectors. The production of consumer goods rebounded strongly, while capital and intermediate goods production picked up compared to March. Meanwhile, energy output contracted for the third month running in April.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output climbed 1.8% in April, rebounding from the 1.2% slip logged in March.
Author: Javier Colato, Economist