Monday. 27.05.2024

Spain's industrial production declined for the first time in eight months in October, driven by a sharp fall in capital goods output, the statistical office INE said on Friday.

Industrial output was down unexpectedly by 0.9 per cent on a yearly basis, reversing a 0.4-per-cent rise in September. This was the first drop since February, when output declined 1.9 per cent.

Economists had forecast an annual growth of 1.5 per cent.

On an unadjusted basis, industrial production slid 3.3 per cent after rising 0.9 per cent a month ago. Among components, capital goods posted the biggest fall of 8.9 per cent, followed by a 1-per-cent decrease in intermediate goods production.

Meanwhile, energy output gained 1 per cent and consumer goods production grew 4.8 per cent.

On a monthly basis, industrial production fell 0.4 per cent after staying flat in September.

Spanish industrial production falls for first time in 8 months