Financial News: Spain Industrial Production Continues To Fall

Spain Industrial Production Continues To Fall

11/07/2023 - 07:30:00 (RTTNews)

(RTTNews) - Spain's industrial production contracted for the sixth consecutive month in September, the statistical office INE said on Tuesday.

Industrial output fell by adjusted 1.4 percent from a year ago but slower than the 3.3 percent decrease in August. Production has been falling since April.

On an unadjusted basis, the decline in industrial production deteriorated to 4.1 percent from 3.7 percent in August.

The 1.4 percent annual fall in production was driven by the 2.4 percent decrease in consumer goods output and 9.6 percent decline in energy production.

An increase of 4.4 percent in capital goods and 0.7 percent gain in intermediate goods output partially offset the declines in energy and consumer goods production.

Month-on-month, industrial production grew 1.1 percent in contrast to the 0.7 percent decrease in August, data showed.

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