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Financial News: Spain Industrial Output Declines At Fastest Pace Since

Spain Industrial Output Declines At Fastest Pace Since 2017

05/08/2020 - 06:37:00 (RTTNews)

(RTTNews) - Spain's industrial production declined at the fastest pace in nearly three years in March, data from the statistical office INE showed Friday.

Industrial production fell 10.2 percent on a yearly basis, following a 0.1 percent drop in February. This was the biggest fall since April 2017, when output was down 10.9 percent.

At the same time, industrial production fell by adjusted 12.2 percent on year after falling 1.5 percent in February.

On a monthly basis, industrial production declined 11.9 percent, in contrast to a 0.1 percent rise a month ago.

Among components, capital goods output declined the most, down by adjusted 26.3 percent annually. Intermediate goods output fell 12.1 percent and consumer goods output dropped 4.9 percent. Energy output decreased 2.2 percent.

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