Spain: Industrial production slows in May
July 5, 2019
Industrial production rose 1.4% year-on-year in seasonally- and calendar-adjusted terms in May, moderating from April’s 1.8% increase. Despite the upturn, the annual average variation in industrial output remained at minus 0.3% in May, which had turned negative for the first time in five years in March.
The production of capital goods slowed while intermediate goods output contracted compared to April. Consumer goods production, however, picked up and energy output rebounded in June.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output climbed a mild 0.3% in May, following the strong 1.8% rise logged in April.
Author: Javier Colato, Economist