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Spain industrial output falls for 23rd month in July

Source: Reuters - Fri 6th Sep 2013
Spain industrial output falls for 23rd month in July

Spain's calendar-adjusted industrial output fell 1.4% year-on-year in July, data from the National Statistics Institute (INE) showed on Friday, the 23rd straight drop.

In June output fell 2.2%, revised down from a preliminary reading for a 1.9% contraction.

This evidence seemingly contradicts comments made by PM Mariano Rajoy at a Political Rally in Pontevedra last weekend when he said that Spain's economic situation "was not good, but improving" .

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