Spain: industrial production up 2.6 per cent year-on-year in July

Spain’s General Industrial Production Index (IPI) rose by 2.6 per cent in July compared with the same month in 2025, marking a slowdown of 1.2 percentage points from June’s growth rate; this was announced on Thursday by the National Statistics Institute (INE). With this year-on-year increase recorded in July – the lowest since last May (+0.4%) – industrial production has now recorded five consecutive months of growth. The rise in industrial production in July was driven by increases in the energy sector (+6.3%), capital goods (+4.5%), non-durable consumer goods (+1.5%) and intermediate goods (+0.6%).

By contrast, the production of durable consumer goods fell by 9.5 per cent year-on-year. Adjusted for seasonal and calendar effects, industrial production rose by 2.3 per cent year-on-year in July, a rate 1.2 percentage points higher than in the previous month. This increase also marks five consecutive months of year-on-year growth in the seasonally adjusted series. On a month-on-month basis (July compared with June), and in the seasonally and calendar-adjusted series, industrial production rose by 0.6 per cent, bucking the trend following the 0.7 per cent fall recorded in June. Analysing individual sectors, capital goods showed the largest monthly increase in output (+1.6 per cent), whilst durable consumer goods recorded the sharpest monthly decline (-3.1 per cent).