Financial News: Spain Industrial Production Falls In January

Spain Industrial Production Falls In January

03/07/2023 - 07:41:00 (RTTNews)

(RTTNews) - Spain's industrial production contracted in January due to the declines in energy and intermediate goods output, data from the statistical office INE showed on Tuesday.

Industrial production declined by adjusted 0.4 percent on a yearly basis, in contrast to the 0.7 percent increase in December.

Meanwhile, on an unadjusted basis, industrial output posted an annual growth of 1.2 percent after a 3.1 percent fall.

The adjusted annual decline was driven by the 4.1 percent fall in intermediate goods and the 3.8 percent decrease in energy output.

Partially offsetting these declines, production of consumer goods grew 1.8 percent and capital goods output advanced 6.4 percent. Month-on-month, industrial output slid 0.9 percent, reversing the 0.8 percent gain in December, data showed.

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