Spain: Industrial output dips in January
Industrial production dropped 0.4% year on year in seasonally and calendar-adjusted terms in January (December: +0.7% ). The reading was largely driven by a deterioration in consumer goods production growth. In addition, capital goods output lost steam.
On a seasonally and calendar adjusted monthly basis, factory output fell 0.9% in January (December: +0.8% mom). Meanwhile, annual average industrial production growth fell to 2.6% in January (December: +2.8%), which marked a six-month low.