Spain’s industrial production advanced 2.5% year-on-year in July 2025, the fastest pace since October 2024 and marking five straight months of expansion. The June reading was revised down to 1.9%. Energy growth cooled slightly to 5.8% from 7.5% in June but remained a key driver, while intermediate goods (2% vs 0.9%) and consumer goods (1.9% vs 0.4%) picked up momentum. Conversely, output declined for capital goods (-1.6% vs 3.9%). On a seasonally adjusted monthly basis, industrial output fell by 0.5% in July, after a downwardly revised 0.8% rise in the previous month.