Spain Industrial Production Growth Slows in August

Industrial production in Spain increased by 1.5% year-on-year in August 2026, following an upwardly revised 2.5% increase in July. Energy production recorded the strongest growth, rising by 4.7%, followed by intermediate goods (2%) and capital goods (0.9%). By contrast, consumer goods production declined by 1%. On a monthly basis, industrial production fell by 0.7%, reversing the 0.6% increase recorded in July. Durable consumer goods was the only sector to post positive monthly growth, at 1%, while energy recorded the sharpest decline, falling by 2%.

Spain's industrial production lost momentum in June, increasing 1.1% year-on-year, the weakest annual gain in four months, following a downwardly revised 3.1% rise in May. Growth remained concentrated in energy (+3.8%) and intermediate goods (+3.1%), while output contracted for capital goods (-0.3%) and consumer goods (-1.4%). On a monthly basis, industrial production declined 0.7%, more than offsetting May's 1.0% increase.

Spain’s industrial production increased by 3.4% year-over-year in May 2026, following an upwardly revised 2.3% rise in the prior month. This marked the third consecutive monthly increase in the country's industrial activity and the strongest since November 2025, supported by the production of intermediate goods (5.4% vs 2.2% in April), energy (5.1% vs 2.5%) and capital goods (3.9% vs 4.1%). Conversely, output declined for consumer goods (-1% vs -0.4%), of which durable (-4.2% vs -6.4%) and non-durable goods (-0.7% vs 0.3%). On a seasonally adjusted monthly basis, industrial activity rose by 1.2% in May, rebounding from a downwardly revised 0.3% decline in the prior month. The turnaround was driven by a recovery in energy (3.8% vs -0.8%) and intermediate goods (2% vs -0.3%) output, while capital goods production posted a modest increase (0.3% vs 0%).