Spain: Industrial output contracts at sharpest pace since March in November
Latest reading: Industrial output slid 0.8% month-on-month in seasonally adjusted terms in November (October: +0.5% mom). The outturn marked the worst reading since March. The reading was partly driven by a deterioration in consumer goods output. In addition, capital goods output fell.
On an annual basis, industrial production dropped 0.4% in seasonally adjusted terms in November, contrasting October’s 1.5% expansion and marking the worst result since March. Meanwhile, annual average of industrial production was steady at October’s 0.0% in November.