Wednesday 12/8/21
STATISTICS

Spanish industrial production growth slows more than expected

Production growth has slowed every month since hitting a peak of 50.3% in April.

10 October 2021, Spain, Lugo: A demonstrator sets fire to a banner with a portrait of the Spanish Minister of Industry, Reyes Maroto, during a joint rally of workers of Alcoa and Vestas factories to against job cuts and to demand the prevention of the factories' shutdown. Photo: Carlos Castro/EUROPA PRESS/dpa
A demonstrator sets fire to a banner with a portrait of the Minister of Industry, Reyes Maroto, during a rally of workers of Alcoa and Vestas factories against job cuts and to demand the prevention of the factories' shutdown. Photo: Carlos Castro/dpa/File photo.

Spanish industrial production growth eased for a fifth straight month, and at a faster-than-expected pace, in September, preliminary data from the statistical office INE showed on Friday.

The industrial production index rose a seasonally adjusted 1.2% year-on-year, following a 1.8% increase in August.

Economists had forecast 1.5% growth. Production growth has slowed every month since hitting a peak of 50.3% in April.

Production of non-durable consumer goods rose 5.7% and that of intermediate goods increased 3.9%.

Capital goods production shrunk 5.8%, energy output fell 1.8% and durable consumer goods manufacturing decreased 0.1% from a year ago.

Month-on-month

The non-adjusted industrial production growth slowed to 1.9% from 3.6%.

Compared to the previous month, industrial production grew for the first time in four months.

Output rose 0.3% after a 0.2% fall in August.

Non-durable consumer goods production rose 1.9% and energy output increased 1.3%.

Comments