Spain: Industrial production growth accelerates in November
January 11, 2016
Industrial production expanded 3.2% in working-day adjusted terms in November compared to the same month last year, well above the previous month’s feeble 0.6% increase. According to the National Statistical Institute (INE), November saw increases across all subcomponents of the index, with intermediate goods rising at a 10-month high and consumer goods speeding up after a meagre reading in October. Despite the improvement, the annual average variation in industrial production slipped down from 2.3% in October to 2.2% in November, the lowest figure in over a year.
On a monthly basis, industrial production rose by 1.8% in November when adjusting for seasonal and calendar effects, above October’s tepid 0.1% increase.
Author: David Ampudia, Economist