By Xavier Fontdegloria
Industrial production in Spain increased in February after stagnating the previous month, in a sign that factory activity gained traction midway through the first quarter of the year.
Industrial production increased 0.9% in February compared with the previous month, data from the country’s statistics office INE showed Friday. This is the first increase in three months, as industrial output declined in December and was unchanged in January.
Factory output is 3% above the level registered the same month a year earlier, the data showed.
The Spanish economy expanded 5.1% in 2021 as it rebounded from the pandemic-induced recession a year earlier. However, growth is expected to have lost momentum in the first quarter of the year given the uncertainty stemming from the war in Ukraine and high energy prices.
Write to Xavier Fontdegloria at [email protected]
