Spain Industrial Output Growth Strongest Since Mid 2022

(RTTNews) - Spain's industrial production registered its strongest growth since mid-2022, driven by a significant increase in energy output, the statistical office INE said on Friday.

Industrial production increased 4.5 percent year-on-year in November, a substantial improvement from the 1.2 percent rise reported in October. Moreover, the growth marked the strongest since July 2022.

The energy sector was the primary driver, with output increasing by 7.2 percent. This was followed by a 3.5 percent rise in consumer goods output and a 3.2 percent increase in intermediate goods production. Capital goods output rose only 0.9 percent.

On an unadjusted basis, industrial output gained 1.8 percent compared to 1.5 percent rise in October.

Month-on-month, growth in industrial production rose to 1.0 percent from 0.6 percent in October.