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Financial News: Spain Industrial Production Growth At 1-Year High

Spain Industrial Production Growth At 1-Year High

08/05/2022 - 06:19:00 (RTTNews)

(RTTNews) - Spain's industrial production growth accelerated in June to reach its highest level in one year, largely driven by output growth in the capital goods and energy sector, preliminary data from the statistical office INE showed on Friday.

Industrial production climbed a seasonally and calendar-adjusted 7.0 percent year-over-year in June, faster than the revised 4.5 percent gain in May.

Output produced in the energy sector was 14.4 percent higher in June compared to a year ago. Capital goods output rose 10.8 percent, while that of intermediate goods registered a moderate increase of 0.1 percent.

Production of consumer goods advanced 7.1 percent annually in June. Output of consumer durable goods increased 5.4 percent and that of non-durables grew 7.0 percent.

On an unadjusted basis, industrial production expanded 6.4 percent yearly in June, following a 6.9 percent gain in May.

On a month-on-month basis, industrial production rose 1.1 percent in June, after a 0.1 percent slight increase in the prior month.

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