Spain's Industrial Production Rebounded Sharply in November

Published: 2022-01-11 03:34:00 ET MWY.AX

By Xavier Fontdegloria

Industrial production in Spain expanded sharply in November after falling the previous month, in a sign that factory activity strengthened midway through the fourth quarter.

Industrial output rose 4.5% in November on month in calendar and seasonally-adjusted terms, data from the national statistics institute INE showed Tuesday. This is the highest rate since July 2020.

In October, industrial production declined by 0.3% on month.

On an annual basis, Spain's industrial output was 4.8% higher in calendar and seasonally-adjusted terms.

Spain's manufacturing sector is expanding amid strong demand for goods, but difficulties in the procurement of inputs and rapid inflation due to high energy prices are curtailing growth. Economists expect global supply-chain and logistics challenges to ease somewhat in 2022.

Write to Xavier Fontdegloria at [email protected]

(END) Dow Jones Newswires

01-11-22 0334ET