Spain: Industrial production recovers solidly in November
January 10, 2020
Industrial production rose a strong 2.1% year-on-year in seasonally- and calendar-adjusted terms in November, rebounding from October’s 1.3% dip and marking a 10-month high. The annual average variation in industrial output swung from a 0.2% contraction in October to a 0.2% expansion in November.
November’s upturn was mainly driven by a rebound in the production of consumer and intermediate goods. Moreover, capital goods output quickened markedly in the month. Meanwhile, energy production contracted again, albeit at a softer pace compared to October.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output climbed 1.0% in November, also rebounding strongly from the 0.5% slip recorded in October.
Author: Javier Colato, Economist