Spain Industrial Output Expands At Slower Pace

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(RTTNews) – Spain’s industrial production grew at a slower pace in August, data released by the statistical office INE showed on Wednesday.

Industrial output rose 1.8 percent year-on-year in August, slower than the 3.3 percent increase logged in July. Economists had forecast an annual growth of 3.5 percent.

On an unadjusted basis, industrial production was up 3.6 percent versus a 0.4 percent rise in the prior month.

Among five sectors, production of intermediate goods expanded by adjusted 5.1 percent and consumer goods by 3.8 percent. Capital goods output was up 1.2 percent. Meanwhile, energy production was down 3.6 percent.

Month-on-month, industrial production decreased 0.3 percent, following a 1.1 percent drop in July. This was the third consecutive decrease in output.