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Financial News: Spain Industrial Production Falls At Faster Pace

Spain Industrial Production Falls At Faster Pace

01/11/2021 - 05:22:00 (RTTNews)

(RTTNews) - Spain industrial production declined at a faster pace in November driven by the weakness in energy and capital goods output, figures released by the statistical office INE showed Monday.

Industrial production decreased by adjusted 3.8 percent from the last year, bigger than the 1.6 percent fall seen in October. Economists had forecast an annual fall of 2.6 percent.

Meanwhile, on an unadjusted basis, the decline in industrial output slowed to 2 percent from 6.2 percent.

Among components, capital goods output decreased 7.1 percent and energy production was down 7.8 percent. Consumer goods output fell 3.6 percent. Meanwhile, intermediate goods production was up 1.2 percent.

Month-on-month, industrial production dropped for the first time in four months. Production slid 0.9 percent, following a 0.5 percent rise a month ago.

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