Data published by the National Statistics Institute (INE) showed that industrial production unexpectedly fell in October, which was due to ongoing disruptions in the supply chain.
INE reported that on a monthly basis, industrial production decreased by 0.4% after being unchanged in September. The last drop was due to a reduction in production in the capital goods sector (-1.3%) and in the intermediate goods sector (-1.3%). Meanwhile, the increase was recorded in the sector of production of short-term consumer goods (+0.3%) and durable goods (+0.9%). Energy production also increased relative to September - by 0.9%.
The data also showed that industrial production decreased by 0.9% per annum in October after an increase of 0.4% in September (revised from +1.2%). Economists had expected a 0.7% increase.