Spain’s June Industrial Production Sees Broad Gains, Energy and Capital Goods Lead

In Spain, industrial production rose by 6.4% in June when compared with the same month in 2021, marking the second straight rebound after May delivered the strongest year‑over‑year gain in eleven months at 6.9%.

The June uptick was led by gains in energy output, which jumped 14.5%, and capital goods production, up 10.5%, as reported by the National Institute of Statistics (INE) through its industrial production index (IPI).

Consumer goods production also advanced, rising 6%. Non-durable goods posted a 6.1% increase, while durable goods grew by 5.3%. However, intermediate goods manufacturing slipped by 0.7%.

The breakdown across business lines shows the strongest gains in motor land vehicle manufacture, which surged 26%. Other notable increases came from coke plants and oil refining (22.8%), clothing manufacturing (16.9%), electricity supply (15.9%), graphic arts (11.3%), and the footwear industry (11.1%).

By contrast, metallurgy grew by 10%, mining industries by 6.5%, electrical materials and equipment manufacturing by 2.2%, machinery and equipment manufacturing by 2.1%, and the chemical industry by 0.5%.

Only three autonomous communities showed a decline in June. La Rioja fell 4.7%, Cantabria 3.4%, and Castilla y León 2.2%. On the upside, the Balearic Islands jumped 32.9%, followed by Castilla-La Mancha at 14.6% and Aragon at 12.5%.

When the data are adjusted for seasonal and calendar effects, industrial production rose by 7% year over year in June and was 2.5 percentage points higher than in May.

Adjusted terms again point to energy production leading gains with a 14.4% rise, followed by capital goods at 10.8% and consumer goods at 7.1%. Intermediate goods, meanwhile, showed little change, essentially flat at 0.1% higher than May.

Looking at month‑to‑month dynamics, the adjusted IPI advanced by 1.1% in June compared with May, marking a gain for the third consecutive month and a 1 percentage point rise from the prior month’s pace.

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