Spain's Industrial Output Falls Less Than Forecast

Spain's Industrial Output Falls Less Than Forecast

Spain's industrial production continued to fall in August, but at a slower than expected pace, the statistical office INE said Friday.

Industrial production declined by adjusted 3.2 percent in August from a year ago, after falling 5.5 percent a month ago. It was forecast to drop by 5.5 percent in August.

On an unadjusted basis, production was down 3.1 percent compared to a 2.7 percent drop in July.

Consumer goods production fell by adjusted 3.6 percent, while durable consumer goods gained 0.6 percent. Production of capital goods slipped 7.6 percent and that of intermediate goods dropped 4.9 percent.

On the other hand, energy production logged an annual growth of 4.3 percent.