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Financial News: Spain Industrial Production Growth Slows More Than Expecte

Spain Industrial Production Growth Slows More Than Expected

11/05/2021 - 04:48:00 (RTTNews)

(RTTNews) - Spain's industrial production growth eased for a fifth straight month and at a faster than expected pace in September, preliminary data from the statistical office INE showed Friday.

The industrial production index rose a seasonally adjusted 1.2 percent year-on-year following a 1.8 percent increase in August. Economists had forecast 1.5 percent growth.

Production growth has slowed every month since hitting a peak of 50.3 percent in April.

Production of non-durable consumer goods rose 5.7 percent and that of intermediate goods increased 3.9 percent.

Capital goods production shrunk 5.8 percent, energy output fell 1.8 percent and durable consumer goods manufacturing decreased 0.1 percent from a year ago.

The non-adjusted industrial production growth slowed to 1.9 percent from 3.6 percent.

Compared to the previous month, industrial production grew for the first time in four months. Output rose 0.3 percent after a 0.2 percent fall in August.

Non-durable consumer goods production rose 1.9 percent and energy output increased 1.3 percent.

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