Industrial production data for August show positive rates for four straight months, signaling steady momentum across the sector.
Capital goods led the gains, rising 14.9% year over year in August. This was followed by energy products at 9.8% and non-durable consumer goods at 6.5%. Conversely, production of intermediate goods fell by 2.9% and durable goods by 0.1% year over year in August.
Looking by industry, leather and footwear sectors posted the strongest gains, up 31.4% year over year, while motor vehicle manufacturing rose 30.6%. The sharpest declines were seen in metallurgy with a 15.7% decrease and the chemical industry down 7.2%.
After seasonal and calendar adjustments, industrial production was 5.5% higher than August 2021, marking a modest, one-tenth higher increase than in July.
In the first eight months of the year, overall industrial production averaged a 3.5% rise. Notable performances included apparel production climbing 18.9%, while metallurgy weakened by 7.5% over the period.
Only Cantabria shows a dip
Across the regions, industrial production rose in 15 communities in August. At the annual pace, Extremadura held steady, and Cantabria posted a 4.9% decline.
Among the strongest performers were the Balearic Islands with a 17.3% gain, followed by Andalusia at 13.7%, Navarra at 13.6%, Asturias at 12.6%, and Madrid at 12%. On the opposite end, Castilla y León registered a modest 0.8% rise, while the Canary Islands and the Valencian Community posted gains of 1% and 1.7% respectively.
0.4% monthly uptick
On a monthly basis, adjusted data show industrial production rising 0.4% from July to August, reversing the 1% decline seen in July.
Among the components, the largest monthly reductions were in pharmaceutical products (-16.6%), graphic arts (-12.8%), and furniture (-10.1%). In contrast, motor vehicle manufacturing surged by 30.2%, coal and related mining by 18.9%, and other mining activities by 11.5%.
These results reflect a broadening recovery across multiple sectors, with durable goods stabilizing, energy and light industry expanding, and a selective rebound in automotive output supporting the monthly uptick. Analysts note that the spread varies by region, with some areas contributing more heavily to the national growth trajectory while others lag behind due to sectoral composition and export demand.