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Spain Industrial production January 2021

Spain: Industrial output contracts at faster pace in January

Industrial production dropped 2.2% year-on-year in seasonally- and calendar-adjusted terms in January, after contracting 1.5% in December 2020 and marking the 13th straight month of decline.

January’s result reflected a broad-based deterioration across most of the index sub-components. Both consumer and capital goods production decreased at a faster rate compared to December. Moreover, intermediate goods production swung to contraction. Meanwhile, energy output growth gained pace.

On a seasonally- and calendar-adjusted monthly basis, factory output decreased 0.7%, contrasting December’s 0.8% increase. Lastly, the trend improved slightly, with the annual average variation of industrial production coming in at minus 9.4%, up from minus 9.5% in the previous month.

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