Spain: Industrial production falls for first time in seven months in October
December 5, 2019
Industrial production dipped 1.3% year-on-year in seasonally- and calendar-adjusted terms in October, contrasting September’s 0.6% rise (previously reported: +0.8% year-on-year) and marking the first fall in seven months. The annual average variation in industrial output ticked down to minus 0.2% in October from minus 0.1% in September.
October’s downturn was mainly driven by a decline in consumer goods and energy production. Moreover, intermediate goods output contracted for the sixth month in a row. Meanwhile, production of capital goods production slowed in October.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output fell 0.4% in October, following the 0.8% slip recorded in September.
Author: Javier Colato, Economist