Spanish industrial production records strong 4.8% rebound

Spanish industrial production rebounded at a faster-than-expected pace in November, data from the statistical office INE showed on Tuesday.

Industrial output grew by an adjusted 4.8% on a yearly basis in November, reversing a 0.7% fall in October. Output was forecast to climb 0.6%.

On an unadjusted basis, industrial output climbed 5.6%, in contrast to October's 3.2% decrease.

Month-on-month, industrial production logged an increase of 4.5%, following a 0.3-per-cent drop in October.

Among the main industrial grouping, consumer goods production registered the biggest annual growth of 12.4%, followed by a 10.2% rise in energy output.

Production of intermediate goods gained 0.4%, while capital goods output dropped 2.2%.