Madrid, Spanish industrial production growth accelerated more than expected in May, largely driven by output growth in the capital goods and energy sector, preliminary data from the statistical office INE showed today.

Industrial production climbed a seasonally and calendar-adjusted 3.8% year-on-year in May, faster than the revised 2.3% gain in April. That was also above the expected increase of 3.4%.

Production of consumer goods advanced 7.5% annually in May. Output of consumer durable goods increased 6.2% and that of non-durables grew 6.3%.

Output produced in the energy sector was 5.7% higher in May compared to a year ago. Capital goods output rose 4.1% and that of intermediate goods grew 1.0%.

On an unadjusted basis, industrial production expanded 6.5% yearly in May, reversing a revised 0.6% fall in the prior month. On a month-on-month basis, industrial production dropped 0.2%, in contrast to a 2.1% rebound in April.

Source: Oman News Agency