Spain: Industrial production accelerates in February
April 6, 2011
In February, industrial production rose a working-day adjusted 3.6% over the same month last year, which was above the 2.9% increase observed in January. The reading marked the fastest expansion since March 2010, indicating that the sector continues to recover from the weak performance of the previous year. The February rise was driven by a 4.4% year-on-year increase in manufacturing output, which offset contractions in mining as well as in the electricity, gas, steam and air conditioning sector. As a result of the increase, the trend continues to improve, with the annual average growth in industrial production rising from 1.7% in January to 2.1% in February, which represented the fastest rate since January 2008.