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
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=%2BrFuX7rOcZgXqFaF7hQljA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
July 03, 2009 03:09 ET (07:09 GMT)
Copyright 2009 Dow Jones & Company, Inc.
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
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=%2BrFuX7rOcZgXqFaF7hQljA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
July 03, 2009 03:09 ET (07:09 GMT)
Copyright 2009 Dow Jones & Company, Inc.
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