Industrial production in Spain continued to decline in January, but the pace of reduction slowed to a three-month low, data from statistical office Ine showed Friday.
On a calendar adjusted basis, production slid 5 percent year-on-year in January. This was weaker than the 7.1 percent fall in December and 6 percent drop expected by economists.
On an unadjusted basis, output fell 3.6 percent year-on-year following an 8.6 percent slump in December. On a monthly basis, however, production climbed 11.5 percent, posting the highest growth rate in the past five years.
After adjusting to calendar variations, production of consumer goods fell 7.9 percent annually and that of capital goods dropped 2.7 percent.
Production at intermediate goods industry was down 3.8 percent from a year earlier. Energy output plunged 4.4 percent.
by RTT Staff Writer
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