Spanish industrial production declined in October for the first time in nine months, defying expectations for further increase, figures from the statistical office INE showed Friday.
The unadjusted industrial production index fell 0.3 percent year-on-year following a 3.8 percent gain in September. Economists were looking for a 4.1 percent increase.
The latest fall was the first since January, when production decreased 2.3 percent.
On a seasonally adjusted basis, industrial production rose 4 percent annually in October after a 3.7 percent gain in the previous month.
In October, energy output shrunk 2.3 percent, while capital goods production grew 10.4 percent. Intermediate goods output increased 4.4 percent and production of durable consumer goods rose 4.1 percent.
Month-on-month, industrial production grew a seasonally-and-calendar adjusted 0.2 percent in October following a 1.1 percent increase in September.
Meanwhile, survey data from Markit Economics revealed this week that Spain’s manufacturing growth accelerated in November, driven by sharper rises in output and new orders. Staffing levels rose for the twenty-third month running in November, albeit modestly.
The material has been provided by InstaForex Company – www.instaforex.com