Spain Industrial Production Growth Improves Unexpectedly


Spain’s industrial production growth improved unexpectedly in August, though slightly, data from the statistical office INE showed on Thursday.

Industrial production climbed a seasonally and calendar-adjusted 5.5 percent year-over-year in August, just above the 5.4 percent rise in July. Meanwhile, economists had forecast the growth to ease to 4.8 percent.

Output produced in the capital goods sector was 12.6 percent higher in August compared to a year ago.

Energy production rose 9.4 percent, and that of consumer goods registered an increase of 5.7 percent. Meanwhile, production of intermediate goods fell 3.2 percent.

On an unadjusted basis, industrial production growth accelerated notably to 5.8 percent from 1.4 percent.

On a month-on-month basis, industrial production rebounded 0.4 percent in August, after a 1.0 percent decline in the prior month.

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