Spain’s industrial output sees ongoing decline while Germany’s rebounds

According to data released by the statistical office INE on Friday, Spain’s industrial production continued its downward trend in January.

The industrial output showed an annual decrease of 0.6 percent, although this decline was slower compared to the 1.4 percent drop recorded in December.

On an unadjusted basis, industrial production saw a 3.6 percent annual increase, marking a reversal from the 4.9 percent decline previously observed.

In January, only capital goods experienced a recovery, with a gain of 3.6 percent. Meanwhile, consumer goods production suffered the most significant annual fall of 1.8 percent.

Output of intermediate goods and energy also saw declines of 0.7 percent and 0.1 percent, respectively.

However, there was a slight uptick in industrial output month-over-month, with a 0.4 percent increase, partially offsetting the 0.6 percent decrease in December.

In contrast, Germany’s industrial production showed signs of improvement in January, as reported by Destatis on Friday.

Industrial production in Germany expanded by one percent on a monthly basis, in contrast to the two percent fall witnessed in December, surpassing expectations of a 0.6 percent climb.

Excluding energy and construction, industrial output in Germany increased by 1.1 percent compared to December.

Production of intermediate goods saw a notable increase of 4.4 percent, while consumer goods output climbed by 4 percent. However, the output of capital goods experienced a decline of 2.1 percent.

Energy production in Germany recorded a decline of 3.7 percent in January.

On a positive note, construction output in Germany saw an increase of 2.7 percent compared to the previous month.