2023.12.0512:13:00UTC+00Spain Industrial Output Falls At Faster Pace

Spain industrial production declined at a faster pace in October largely due to the sharp fall in energy output, the statistical office INE said on Tuesday.

Industrial production declined by adjusted 1.5 percent year-on-year in October, which was sharper than the 1.2 percent fall in September.

By contrast, unadjusted industrial output grew 0.9 percent, following a notable 3.9 percent decrease.

Four of the five sub-sectors of industrial production posted negative annual rates in November. Energy production plunged by adjusted 6.3 percent and intermediate goods output was down 1.7 percent.

Output of durable consumer goods and non-durable consumer goods slid 1.3 percent and 0.9 percent, respectively. Meanwhile, capital goods output gained 2.8 percent.

On a monthly comparison, industrial output posted a 0.5 percent fall, reversing the 1.1 percent increase in September, data showed.