Link Securities | The National Statistics Institute (INE) published yesterday that industrial production in Spain fell by 0.7% in March compared to February, in seasonally and calendar adjusted figures. In the month, all sectors presented negative growth rates in their production, although the largest decreases were seen in Capital Goods and Energy (both with a variation of -1.6%).
In year-on-year terms, industrial production in Spain fell by 1.2% in March in seasonally adjusted figures (+1.3% in February). By sector, and in indices adjusted for seasonal and calendar effects, the production of Non-durable consumer goods presented the highest year-on-year growth rate (+3.7%). On the other hand, the production of Consumer durables registered the highest decrease (-4.2%).
In the original series, if seasonally adjusted, industrial production fell in March by -11.3% (+4.3%), weighed down by the celebration of Easter at the end of March (+4.3%).
