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Spain Industrial Production Growth Halves In July

Spain's industrial production growth halved in July after stabilizing in the previous month, to its weakest pace in four months, preliminary figures from the statistical office INE showed on Wednesday.

The industrial production index rose a seasonally adjusted 0.8 percent year-on-year following a 1.6 percent growth in May and June. In April, output grew 1.7 percent after falling 2.9 percent in March.

Economists had expected 1.5 percent growth in July.

Energy output grew 7.4 percent annually and production of non-durable consumer goods rose 2.7 percent.

In contrast, production of capital goods decreased 2.2 percent, and that of intermediate goods fell 2.0 percent. Manufacture of durable consumer goods shrank 0.6 percent.

On a non-adjusted basis, production grew 2.9 percent after a 1.9 percent slump in the previous month.

The seasonally and calendar-adjusted month-on-month decline in industrial production doubled to 0.4 percent from 0.2 percent in June.

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