Spain's Industrial Output Growth Slows to 1.1% Year-Over-Year in June

Spain's industrial output growth slowed significantly in June, dropping to 1.1% year-over-year compared to May's revised 3.4% annual increase.

This marks the second consecutive month of deceleration in the year-on-year rate and follows a broader trend across the eurozone where factory activity has been subdued due to high energy costs, persistent inflation, and weakening global trade.

The decline was broad-based, with the production of consumer goods and capital goods both contracting compared to May. The services sector remains resilient, but the manufacturing contraction could weigh on second-quarter GDP growth and affect employment in industrial regions.