Spain: Industrial output growth falls in March
Industrial production rose 0.1% year-on-year in seasonally- and calendar-adjusted terms in March (February: +2.8%). The reading reflected a broad-based downturn, with activity in the consumer goods, capital goods and intermediate goods sub-sectors all deteriorating in March.
On a monthly basis, factory output dropped 1.8% in seasonally-adjusted terms in March, which contrasted February’s 0.9% increase. Meanwhile, the trend weakened, with the annual average growth of industrial production coming in at 7.0%, down from February’s 8.1%.