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Spain Industrial Production Surges In April

Spain Industrial Production Surges In April

Spain’s industrial output grew sharply in April on higher production of durable consumer goods and capital goods, data from the statistical office INE showed on Monday.

Industrial production surged 48.2 percent year-on-year in April, after rising 12.9 percent in March. Economists had forecast output to climb 12.6 percent.

On an unadjusted basis, industrial output grew 50.3 percent versus 15.4 percent increase a month ago.

Month-on-month, industrial production growth doubled to 1.2 percent from 0.6 percent in March. This was the second consecutive rise in production.

Data showed that durable consumer goods output jumped 222.1 percent and non-durable consumer goods output rose 25.3 percent.

Production of capital goods grew 117.6 percent and intermediate goods output was up 59.1 percent. Energy production grew only 13.5 percent.

The material has been provided by InstaForex Company – www.instaforex.com