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Financial News: Spain Industrial Production Growth Exceeds Forecast

Spain Industrial Production Growth Exceeds Forecast

12/05/2017 - 05:17:00 (RTTNews)

(RTTNews) - Spain's industrial production grew more than expected in October, figures from the statistical office INE revealed Tuesday.

Industrial production climbed by adjusted 4.1 percent year-on-year in October, faster than the 3.4 percent increase seen in September. Output was forecast to grow 3.7 percent.

On an unadjusted basis, industrial output grew at a much faster pace of 6.9 percent annually after climbing marginally by 0.2 percent in September.

Month-on-month, industrial production growth accelerated to 0.6 percent in October from 0.1 percent in September.

Among components, capital goods production advanced 6.4 percent and intermediate goods output climbed 7.3 percent annually. Production of consumer goods advanced 2.5 percent in October. Meanwhile, energy output fell 1.6 percent.

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