Spain's industrial production up 1.4% in 2014

 

Spain's industrial production rose by 1.4% in 2014, according to the Index of Industrial Production (IPI) published on Friday by the Spanish Statistical Office (INE).

According to the INE, production of consumer goods increased by 1.6% in 2014, with production of durable consumer goods falling by 2.2% and production of non-durable consumer goods rising by 1.8%.

Production of capital goods and production of intermediate goods rose by 0.3% and 3% respectively, while production of energy fell by 1.6%, the INE said.

The INE reported that industrial production fell by 0.3% from November to December.

Production of capital goods increased by 0.1%, production of non-durable consumer goods showed no variation and production of durable consumer goods and intermediate goods fell by 1.2% and 0.4% respectively.

This was the first time industrial production rose by the end of the year since 2007, when industrial production rose by 2.4%. The housing bubble burst in Spain in 2008 and triggered a financial crisis that undermined the country's industrial production.

The Spanish economy left economic recession behind in Q3 of 2013 and according to the INE the country's GDP grew by 1.4% in 2014.

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