Spain's factories axed output in July, official data showed Friday, completing a near two-year industrial decline as domestic demand evaporated in a job-wrecking recession. Factories and utilities reduced production by 1.4 percent in the year to July after smoothing out seasonal blips, the National Statistics Institute said. Output fell 2.2 percent on an annual basis in the previous month. It was the 23rd straight month showing an annual decline in industrial production from the eurozone's fourth-largest economy. The news comes as Spain hopes to crawl out of a two-year recession in this quarter and shake off the aftermath of a decade-long property bubble that imploded in 2008. Output of consumer goods tumbled 1.5 percent overall. But in a worrying sign for the economy, production of durable consumer goods such as cars or washing machines plunged 10.5 percent while output of non-durable consumer goods such as food or paper eased 0.4 percent. Producers boosted output of business equipment by 3.9 percent. Production of intermediate goods used in manufacturing, such as chemicals, fell 4.6 percent. Utilities lowered energy output by 2.3 percent.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor