Spain industrial output declined at a slower pace in July despite sharp fall in energy and durable consumer goods production, the statistical office INE reported Friday. Industrial output declined by adjusted 1.8 percent in July from a year ago, which was slower than the 3.2 percent decrease in June. Output was expected to drop 2.0 percent.
On an unadjusted basis, the annual decrease in industrial production worsened to 1.8 percent from 1.5 percent in June.
Production of energy and durable consumer goods registered strong decline of 10.8 percent and 7.3 percent respectively. Intermediate goods output fell only 2.6 percent.
Partially offsetting these declines, capital goods production advanced 5.9 percent and non-durable consumer goods output moved up 1.1 percent in July.
Month-on-month, industrial production gained 0.2 percent, reversing June's 1.0 percent decrease.
