Friday, 3 July 2009

Spanish May Industrial Production -21% On Year

Spanish May Industrial Production -21% On Year

MADRID (Dow Jones)--Spanish industrial production weakened further in May, weighed down by sluggish output of durable and capital goods.

Spanish May industrial production fell 21% on the year in calendar-adjusted terms, after a 19% decline in April and a 24% decline in March according to preliminary data Friday from Spain's National Statistics Institute, or INE.

The April figure was revised from a previously estimated decline of 20%.

The production of durable consumer goods dropped 33%, while capital goods production dropped 29%.

The Spanish economy entered recession in the third quarter of last year after the global financial crisis hastened the collapse of a decade-long construction boom in the country.

INE Web site: www.ine.es

-By Christopher Bjork and Jonathan House, Dow Jones Newswires; +34-91-3958121; jonathan.house@dowjones.com

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(END) Dow Jones Newswires

July 03, 2009 03:09 ET (07:09 GMT)


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