Spain’s industrial turnover up 0.5% in June

Spain’s adjusted Industrial Turnover Index (ITI) reported a 0.5 per cent increase in June 2024, compared to the same month last year. However, all market segments experienced negative annual rates, with the non-euro area foreign market seeing a significant decline of 11.0 per cent.

Month-on-month, the seasonally and calendar-adjusted ITI remained unchanged from May to June, reflecting a slight improvement of 0.8 percentage points from the previous month. Within the Main Industrial Groupings (MIGs), four out of five sectors saw negative monthly changes.

The energy sector was hardest hit, with a 2.4 per cent decline, followed by capital goods at 1.3 per cent. The intermediate goods sector was the only exception, with a slight increase of 0.3 per cent.

Regionally, turnover increased in three autonomous communities: Andalucía by 7.3 per cent, Castilla-La Mancha, and Principado de Asturias (both 0.7 per cent). In contrast, 14 regions saw decreases, with the largest drops recorded in Illes Balears by 14.3 per cent, Comunidad Foral de Navarra by 12.0 per cent, and Cantabria by 11.8 per cent.

Attribution: Spanish Statistical Office (INE)

Subediting: M. S. Salama