2018.07.0503:37:00UTC+00Spain's Industrial Output Growth Slows In May

Spain's industrial production grew at a slower pace in May due to weaker consumer goods output, data from the statistical office INE showed Thursday.

Industrial output advanced 1.6 percent annually in May, weaker than the 2.1 percent increase seen in April. Production was expected to grow 1.7 percent.

On an unadjusted basis, industrial production growth eased sharply to 1.6 percent annually from 11.2 percent a month ago.

The slowdown in industrial output was largely driven by a 2.4 percent fall in consumer goods output.

Meanwhile, capital goods and intermediate goods output rose 3.8 percent and 4 percent, respectively. Energy output gained only 0.2 percent.

Month-on-month, industrial output rose 0.9 percent in May, in contrast to a 1.8 percent fall in April.