Spain: Industrial production growth eases in December
February 8, 2017
Industrial production in Spain expanded 1.9% in working-day adjusted terms in December compared to the same month last year, well below November’s revised 2.8% increase (previously reported: +3.2% year-on-year). According to the National Statistical Institute, December saw increases across most sub-components of the index, with intermediate goods growth reaching a one-year high. Meanwhile, growth in consumer goods slowed after a strong reading in November and production of capital goods fell 1.2%, contrasting with November’s 1.8% growth.
On a monthly basis, industrial production contracted by 0.5% in December when adjusting for seasonal and calendar effects, dipping into negative territory after November’s revised 1.5% increase (previously reported: +1.8% month-on-month).
Author: Christopher Thomas, Economist