Spanish industrial production slightly weaker than expected in June

Spanish industrial output turned higher in June following two consensecutive months of falling production.

Total output rose by 0.2% month-on-month led by a 1.6% increase in the production of consumer goods.

That was nonetheless lower than the 0.3% gain which economists had penciled in.

While Spain´s industrial sector was still set to see growth over the three months ending in June, of 0.4% quarter-on-quarter, unlike in the other Eurozone big-four economies, recent leading indicators for manufacturing had pointed towards an easing in the rate of expansion over coming months, Gizem Kira, senior european economist at BNP Paribas said in a research note sent to clients.