Spain Industrial Production Rises 1.5 Percent in August
Spain's industrial production grew 1.5 percent year-on-year in August, marking the sixth consecutive month of growth despite a moderation in pace from July.
The National Statistics Institute reported Tuesday that Spain's industrial production rose 1.5 percent year-on-year in August. This figure represents the sixth consecutive month of growth for the sector, although the pace of expansion moderated from the 2.5 percent increase recorded in July.
On a month-on-month basis, industrial output fell 0.7 percent from July. The overall annual growth was driven primarily by energy production, which increased 4.7 percent on a seasonally and calendar-adjusted basis. Gains were also seen in intermediate goods, which rose 2.0 percent, and capital goods, which grew 0.9 percent.
These increases were partially offset by a 1.0 percent decline in the output of consumer goods. On an unadjusted basis, the National Statistics Institute noted that industrial output climbed 1.6 percent compared to the previous year.
