FX.co ★ Spain Industrial Activity Rebounds Less than Anticipated

Spain’s industrial production increased by 0.3% year-on-year in January 2026, rebounding from a 0.3% decline in December but falling short of market expectations for a 1.7% rise. The recovery was mainly supported by higher output in the energy sector (5.6% vs 4% in December) and in capital goods (2% vs -1.4%). In contrast, production fell in durable consumer goods (-8.6% vs -3.9%), non-durable consumer goods (-1.8% vs 0.4%), and intermediate goods (-2.3% vs -1.8%).