Spain: Industrial output contracts at softest pace in one year in December
February 8, 2021
Industrial production slid 0.6% year-on-year in seasonally- and calendar-adjusted terms in December 2020, after contracting 3.7% in November. The decline was the softest seen in the entire year.
December’s result reflected a broad-based improvement across all the index sub-components. Both consumer and capital goods production fell at a softer pace compared to November. In addition, intermediate goods production gathered momentum while energy output rebounded.
On a seasonally- and calendar-adjusted monthly basis, factory output increased 1.1%, bouncing back from November’s 0.9% dip. Lastly, the trend deteriorated slightly, with the annual average variation of industrial production coming in at minus 9.4%, down from minus 9.3% in the previous month.