Spain: Decline in industrial activity softens in August
Latest reading: Industrial output slid 0.1% in month-on-month seasonally adjusted terms in August, which was above July’s 0.4% decrease. The improvement was driven by smaller drops in intermediate goods output and energy production. On the flip side, production of both consumer and capital goods fell at steeper rates.
On a seasonally and calendar adjusted annual basis, factory output fell at a softer rate of 0.1% in August (July: -0.4% yoy). Moreover, the trend improved, with the annual average variation of industrial production coming in at minus 0.5% in August, up from July’s minus 0.7%.