Spanish industrial production fell at the end of the year
The fall was driven by a sharp decline in non-durable consumer goods, the Spanish statistical office (INE) said on Tuesday
Spanish industrial production declined 2.6% in December 2021, once seasonal and calendar effects were eliminated, reversing a 3.9% rebound in November.
The fall was driven by a sharp decline in non-durable consumer goods, the Spanish statistical office (INE) said on Tuesday.
The December rate is 6.5 points lower than that registered in November.
By sectors, intermediate goods production gained 0.6% and capital goods 0.3%, showing both positive monthly rates.
On the contrary, non-durable consumer goods fell 7.8%, energy fell 1.8% and durable consumer goods declined 0.6% and registered negative monthly rates.
Year-on-year growth
On a yearly basis corrected for seasonal and calendar effects, Spanish industrial production increased by 1.3%. This rate is 3.3 percentage points lower than that in November.
On an unadjusted basis, the year-on-year increase was 2.7%.