Thursday. 01.12.2022
ECONOMY

Spain industrial production rises at faster pace

Within five sectors, four sectors posted positive annual growth rates in January

28 February 2022, Spain, Barcelona: A view of a hall at the Mobile World Congress mobile communications trade fair. This year's fair is the first major edition of the most important industry gathering in three years in view of the Corona crisis. The organizers expect 40,000 to 60,000 visitors. Photo: Andrej Sokolow/dpa.
A view of a hall at the Mobile World Congress mobile communications trade fair in Barcelona. Photo: Andrej Sokolow/dpa.

Spain industrial production grew at a slightly faster pace in January driven by consumer goods output, the statistical office INE said on Tuesday.

Industrial output climbed by an adjusted 1.7% year-on-year in January, following December's 1.3% increase.

Nonetheless, this was weaker than the economists' forecast of +2.3%.

On an unadjusted basis, industrial output growth improved to 4.0% from 3.0%, data showed.

Within five sectors, four sectors posted positive annual growth rates in January.

Month on month decline

Consumer goods output advanced 5.0% and intermediate goods production gained 1.6%. At the same time, energy output grew only 0.2% and capital goods output fell 1.3%.

Month-on-month, industrial production slid 0.1% in January, but slower than the 0.5% decline logged in December. This was the second consecutive fall in production.

Spain industrial production rises at faster pace
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