Spain: Industrial output contracts less severely in June
Industrial output plunged 14.0% year-on-year in seasonally- and calendar-adjusted terms in June, which was less severe than May’s 24.7% collapse.
June’s smaller contraction reflected a broad-based improvement across the major sub-sectors: Output of consumer, intermediate and capital goods as well as energy production all declined less markedly than in May.
On a seasonally- and calendar-adjusted monthly basis, factory output grew 14.0% in June, below May’s 14.3% expansion which had marked the strongest increase on record.