Spain: Industrial output records lowest growth since March in October
Industrial output rose 2.5% year-on-year in seasonally and calendar-adjusted terms in October, which was a deterioration from September’s 3.6% increase. October’s result marked the worst reading since March. The reading was largely driven by a deterioration in consumer goods production growth, as it expanded at the slowest pace since March. In addition, capital goods production decelerated.
On a monthly basis, industrial output dropped 0.4% in seasonally adjusted terms in October, which was greater than Septembers 0.1% fall. Meanwhile, annual average industrial production growth rose to 3.3% in October (September: +3.1%), signaling an improving trend in the industrial sector.