Ten months of declines in industrial sector

Industrial growth in Spain has fallen for ten straight months after closing June with a year-to-year drop off of 6.9%. Except for Murcia and Baleares, no more of the country's fifteen other regions posted growth. This figure helps to explain why the country's economy has been stuck in a recession for the past three quarters.

But Spain is not the only country in this situation. Industrial production levels throughout the euro zone showed alarming signs of stagnation in June. This downward spiral shows no signs of improving for the near term and suggests that Spain's recession might spread to more-or-less healthy economies in the months ahead.