FX.co ★ Spain Factory Activity Growth Slows to 4-Month Low

In September 2025, Spain's industrial production experienced a 1.7% year-over-year growth, following a 3.3% increase in August, which had been revised downward. This represents the seventh consecutive month of industrial expansion, although it marks the slowest growth rate since May. Notably, output rose in sectors such as energy, which saw a 3.6% growth compared to 3.8% in August; consumer goods, which grew by 2.7% against 4.1% previously; and intermediate goods, which increased by 0.7% from 0.3%. However, capital goods saw a decline of 0.3% after a significant 4.4% rise the previous month. When adjusted for seasonal variations on a month-to-month basis, industrial production recorded a 0.4% increase, rebounding from a 0.1% decline in the prior month.