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Financial News: Spain Industrial Production Growth Slows More Than Expecte

Spain Industrial Production Growth Slows More Than Expected

05/06/2022 - 11:22:00 (RTTNews)

(RTTNews) - Spain's industrial production growth eased more-than-expected in April as intermediate goods sector marked a sharp fall in output, data released by the statistical office INE showed on Friday.

Industrial output rose a seasonally and calendar adjusted 0.1 percent year-on-year in April, much slower than the 2.8 percent increase in March. Economists had expected the growth to slow marginally to 2.7 percent.

On an unadjusted basis, industrial production growth slowed to 1.1 percent in April from 4.1 percent the prior month.

Among sectors, output produced in energy advanced 2.3 percent annually in April and those of consumer goods grew 2.8 percent. Meanwhile, intermediate goods output declined 4.5 percent.

On a monthly basis, industrial production fell 1.8 percent in April, in contrast to a 0.9 percent rebound in March.

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