Spain: Industrial production growth moderates in September
November 7, 2016
In September, Spanish industrial production expanded 0.8% from the same month last year in working-day adjusted terms. The reading was markedly below the revised 4.3% increase recorded in August (previously reported: +4.0% year-on-year), which had marked the highest reading in almost a year. According to the Statistical Institute (Instituto Nacional de Estadística, INE), increases in output for intermediate goods and energy were partially offset by a decrease in the production of capital goods. Annual average variation in industrial production edged down from 2.8% in August to 2.6% in September.
On a monthly basis, industrial production fell 1.4% in working-day adjusted terms in September, which contrasted the 1.6% increase seen in August and marked the lowest reading in more than a year.
Author: David Ampudia, Economist