Spain: Industrial production slips in February
Industrial production slipped 0.3% year-on-year in seasonally- and calendar-adjusted terms in February, contrasting January’s revised 2.7% increase (previously reported: +2.4% year-on-year). In turn, annual average industrial output growth edged down to 0.3% in February from 0.5% in January.
February’s dip reflected weaker dynamics across all major sectors. The production of consumer and capital goods lost pace compared to January while energy and intermediate goods output swung to contraction in February.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output declined 1.1% in February, contrasting the solid 3.6% rise logged in January.