2023.02.0708:26:00UTC+00Spain Industrial Production Unexpectedly Rises In December

Spain industrial production unexpectedly expanded in December underpinned by consumer and capital goods output, the statistical office INE said Tuesday.

Industrial production grew 0.6 percent from the last year, partially offsetting the 0.7 percent decline in November. Output was forecast to fall 0.6 percent.

Within total output, capital goods registered a double-digit growth of 10.2 percent and consumer goods production gained 3.7 percent. Meanwhile, output of intermediate goods and energy fell 5.0 percent and 4.2 percent, respectively.

On an unadjusted basis, industrial output slid 3.4 percent annually, following a 1.5 percent drop in the previous month.

Month-on-month, industrial output posted a monthly growth of 0.8 percent, reversing a 0.6 percent decrease in November. This was the first rise in four months.

In the whole year of 2022, industrial production increased by adjusted 2.9 percent, data showed.