Industrial Production Drops 5% in June, Marking Two Consecutive Months of Decline

Industry Revenue Declines Sharply

According to the latest data, the industrial sector in Spain experienced a significant 5% drop in revenue in June compared to the same month in 2023.

Widespread Declines Across Communities

The downturn affected 14 autonomous communities, indicating a broad-based slowdown in industrial activity.

Moreover, this decline was more pronounced than the 1.2% decrease recorded in May.

A Challenge for Spanish Industry

This double-digit decline in industrial production raises concerns about the health of the sector and the potential impact on the overall economy.

Experts note that this decline is part of a larger trend of slowing economic growth in Spain.

Underlying Causes

Various factors may have contributed to this decline, including:

• Weakening demand in both domestic and international markets
• Rising production costs due to inflation
• Supply chain disruptions

Impact on the Economy

The industrial sector plays a critical role in the Spanish economy, accounting for approximately 20% of GDP.

A sustained decline in industrial production could have a ripple effect on other sectors of the economy.