Spain: Industrial output shrinks for eleventh successive month in November
January 11, 2021
Industrial production contracted 3.8% year-on-year in seasonally- and calendar-adjusted terms in November, after falling 1.6% in October and marking the eleventh consecutive month of declining output.
November’s result reflected a broad-based deterioration across the index sub-components. Consumer and capital goods production, as well as energy output all fell at a sharper pace compared to October. Moreover, intermediate goods production lost traction.
On a seasonally- and calendar-adjusted monthly basis, factory output slid 0.9% in November, contrasting October’s 0.5% increase. Lastly, the trend deteriorated, with the annual average variation in industrial production coming in at minus 9.3%, down from minus 8.8% in the prior month.