Spain: Industrial activity dips in October
Industrial production decreased 1.5% year on year in seasonally and calendar-adjusted terms in October (September: -1.2% ). The steeper decline came on the back of a drop in consumer goods production. In addition, intermediate goods production contracted at a steeper rate.
On a seasonally and calendar adjusted monthly basis, factory output fell 0.5% in October (September: +1.1% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 0.8%, down from September’s minus 0.5%.