Spanish Industrial Output Declines Further

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Spanish industrial output declined 16.7% on a yearly basis in July, larger than the revised 14.3% decrease seen in the prior month, a report from the National Statistics Institute showed Tuesday.

On a calendar adjusted basis, production was down 17.4% in July versus June's revised 16% decline. Economists were expecting an annual fall of 16% for July.

Production of consumer goods slipped 9.8% in July from the previous year, while that for non-durable consumer goods were down 6.2%. Capital goods and intermediate goods production decreased 26% and 20%, respectively. At the same time, annual fall in energy output was 6.9%.

Spanish industrial output declined 16.7% on a yearly basis in July, larger than the revised 14.3% decrease seen in the prior month, a report from the National Statistics Institute showed Tuesday. (Market News Provided by RTTNews)