FX.co ★ Spain Industrial Production Contracts 0.4%

Spain's industrial production declined for the second straight month in February, largely driven by a sharp fall in intermediate goods output, preliminary data from the statistical office INE showed on Wednesday.

Industrial production declined by an adjusted 0.4 percent year-over-year in February, after a revised 0.2 percent drop in January.

On an unadjusted basis, industrial output fell 0.8 percent, in contrast to the 1.4 percent recovery seen in the preceding month.

The adjusted annual decline was driven by the 5.8 percent fall in intermediate goods and to a lesser extent by a 0.6 percent decrease in consumer goods output.

Meanwhile, production of capital goods grew 5.7 percent and energy production advanced 0.7 percent.

Month-on-month, industrial output rebounded 0.6 percent in February versus a 0.8 percent decline at the start of the year.