FX.co ★ Spain Industrial Output Falls More than Expected

In February 2025, Spain's industrial production experienced a year-on-year decline of 1.9%, following a revised decrease of 1.2% in January and exceeding the anticipated slight drop of 0.1%. This marks the second consecutive decrease in Spanish industrial activity, representing the largest reduction since December 2023. The downturn was driven by reduced production in capital goods (-4% following January's -5.3%), consumer goods (-2.3% compared to a previous increase of 0.6%), and intermediate goods (-0.7% from the prior month's 1.3% growth). However, energy output saw a slight increase, rising by 0.5% after a 0.6% gain in the previous month. Despite these annual declines, seasonally adjusted monthly industrial output actually increased by 0.7% in February, following a revised 1.2% decline in January.