Spain Industrial production October 2020

Spain

Spain: Industrial output declines at softest pace in the year in October

December 9, 2020

Industrial production dropped 1.6% year-on-year in seasonally- and calendar-adjusted terms in October, moderating from September’s 3.1% decline. October’s reading marked the best outturn in the year but the tenth consecutive month of contraction.

October’s result reflected a broad-based improvement across the sub-components of the index. Energy and capital goods output fell at a milder pace compared to September while intermediate goods production rebounded. Consumer goods production, however, declined at a sharper rate.

On a seasonally- and calendar-adjusted monthly basis, factory output climbed 0.6% in October, down from September’s 0.9% rise.

FocusEconomics Consensus Forecast panelists see industrial production increasing 6.7% in 2021 and 3.1% in 2022.


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Spain Industry October 20 20

Note: Year-on-year and annual average variation of seasonal-and calendar-adjusted industrial production index in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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