FX.co ★ Spain Industrial Output Growth Slows For Fourth Month

Spain's industrial production growth eased for the fourth consecutive month in October as output of intermediate goods continued its downward trend, data from the statistical office INE showed Friday.

Industrial production was up by adjusted 2.5 percent in October from the last year, but slower than the 3.6 percent rise in September and economists' forecast of +2.8 percent. Production has been rising since last April. However, the pace of expansion has slowed over the last four straight months.

By sectors, capital goods, energy and non-durable consumer goods showed positive annual rates of 11.0 percent, 3.6 percent and 2.4 percent, respectively. On the other hand, intermediate goods output slid 2.9 percent and durable consumer goods by 1.9 percent.

On an unadjusted basis, annual growth in industrial output came in at 2.2 percent in October compared to 3.6 percent in September. The monthly fall in industrial production deepened to 0.4 percent from 0.1 percent in September. This was the second consecutive decrease in production.