RTTNews - Industrial production in Spain dropped 22.3% year-on-year in May, slower than a 28.4% fall in the preceding month, the National Statistics Institute or INE said Friday.
Annually, mining and quarrying output fell 28%, while manufacturing output declined 23.4%. Production of utilities was down 9%. Among the main industrial groups, the steepest fall in production of 36.2% was for durable consumer goods.
After adjusting for working days, the industrial production slipped 20.5% in May compared to a revised 19.4% fall in April. Economists expected a 16% drop.
In the first five months of the year, output dipped 21.6% compared to the same period the previous year.
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