Production fell surprisingly in month-on-month in November
The recovery of Spanish industry from the Corona slump has come to a standstill. In November, after six increases in a row, total production fell surprisingly by 0.9 percent compared to the previous month, as the statistics office INE announced on Monday in Madrid. After the severe Corona slump in spring, production initially increased massively before the pace slowed.
Analysts were disappointed by the development. For November they had expected a moderate increase of 0.2 percent on average. In a year-on-year comparison, the experts' expectations were also missed: This analysis showed a decrease of 3.8 percent. Here analysts had expected a decrease in production of 2.5 percent.
In particular, the annual comparison makes the consequences of the corona crisis visible, which hit Spain very hard. In November, the country's economy was hit by the second corona wave.
