FX.co ★ Spain Industrial Production Falls 0.1%, Less Than Forecast

Spain's industrial production declined for the second straight month in May, largely due to a fall in the output of energy and intermediate goods, preliminary data from the statistical office INE showed on Wednesday.

Industrial production declined by an adjusted 0.1 percent year-over-year in May, following a 1.0 percent drop in April. That was below the 0.5 percent fall economists had forecast.

On an unadjusted basis, industrial output rebounded 0.2 percent after a 4.2 percent fall in the preceding month.

The adjusted annual decline was largely driven by the 5.1 percent decline in energy production, closely followed by a 5.0 percent decrease in intermediate goods output.

At the same time, capital goods production logged an annual growth of 7.0 percent, and that of consumer goods grew 1.6 percent.

Month-on-month, industrial output advanced 0.6 percent in May versus a 1.9 percent fall in April.