Link Securities | The National Statistics Institute (INE) reported that industrial production, adjusted for seasonal and calendar effects, fell by 0.1% in Spain in August compared to July, when it had fallen by 0.4%. By sector of activity, the production of capital goods (up 2.6%) was the only one to show a positive monthly rate. In contrast, the production of intermediate goods (down 1.5%) fell the most during the month.
Meanwhile, in year-on-year terms, industrial production, in seasonally and calendar-adjusted data, grew by 3.4% in August (up 2.7% in July). In the original series, without adjustments, industrial production in Spain grew by 0.4% in August in year-on-year terms (2.5% in July).
By sector of activity, in year-on-year terms and seasonally and calendar adjusted data, the production of capital goods (up 4.9%) showed the highest growth rate, followed by non-durable consumer goods (4.4%) and energy (3.7%). Meanwhile, intermediate goods production grew slightly in August (0.4%). In contrast, durable consumer goods production (down 1.1%) recorded the only negative year-on-year rate.
