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Financial News: Spain Industrial Output Drops In December

Spain Industrial Output Drops In December

02/07/2024 - 05:05:00 (RTTNews)

(RTTNews) - Spain's industrial production dropped in December due to the fall in consumer goods output, the statistical office INE said Wednesday.

Industrial output fell 0.2 percent annually, in contrast to the 0.9 percent increase in November. The decline came in line with expectations.

Data showed that there was a 3.6 percent decrease in consumer goods output. Meanwhile, production of capital and intermediate goods grew 0.2 percent and 0.1 percent, respectively. Energy output moved up 1.9 percent.

On an unadjusted basis, industrial production posted an annual decline of 4.0 percent after rising 1.0 percent in the previous month.

Month-on-month, industrial production was down 0.3 percent, in contrast to November's 1.1 percent increase.

In 2023, industrial production fell 0.8 percent, data showed.

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