Spain Industrial Output Unexpectedly Grows 1.5%
Spain industrial production increased for the second straight month in February, defying economists’ forecast for a decline, data from the statistical office INE showed on Friday.
Industrial output posted an annual increase of 1.5 percent, faster than the 0.3 percent rebound in January. In contrast, economists had expected a 0.5 percent fall.
Further, this was the biggest increase since March 2023, when output had expanded 2.3 percent.
On an unadjusted basis, industrial production growth improved somewhat to 4.1 percent in February from 4.0 percent a month ago.
Among components, capital goods production grew the most by 4.3 percent annually, followed by consumer goods with 3.3 percent gain.
Intermediate goods production registered an increase of 2.0 percent, while the decline in energy goods output deepened to 1.3 percent from 0.3 percent.
Month-on-month, industrial output moved up 0.7 percent, after a 0.6 percent rebound seen in January.
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