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.