Spain’s November Industrial Output Rises 4.5% Y/Y, Showing Year-End Recovery
Data released by Spain’s National Statistics Institute (INE) on January 9, 2026, revealed that seasonally and calendar-adjusted industrial output grew by 4.5% year-on-year in November 2025. This rate is a substantial increase from October’s 1.2%, indicating a significant acceleration in the country’s industrial activity towards the end of 2025.
Key Data Highlights
According to official INE statistics, the 4.5% year-on-year growth in November marks the strongest performance since July 2022. On a month-on-month basis, seasonally and calendar-adjusted output increased by 1.0%, up from 0.6% in October. The unadjusted series showed a 1.8% year-on-year rise, an improvement from October’s 1.5%. This indicator has now posted positive growth for nine consecutive months.
Sectoral Performance Varies
By sector, energy output showed the most robust performance, surging 7.2% year-on-year. Intermediate goods grew by 3.2%, and capital goods output returned to positive territory with a 0.9% increase. Consumer goods saw an overall rise of 3.5%, but durable consumer goods production fell by 3.3%, making it the only category to register negative growth. This breakdown reflects how strong demand in energy and specific manufacturing areas is driving the overall industrial recovery.
Economic Context and Regional Differences
This acceleration in industrial output provides a positive boost to the year-end economic performance of Spain, the Eurozone’s fourth-largest economy. Across the country, several autonomous communities saw significant increases in industrial production, with Andalusia (+11% Y/Y) and Castile and León (+12.8% Y/Y) leading the gains. Following the release, various media outlets and financial platforms like Investing.com and RTTNews reported on this positive development, confirming the reliability of the INE data.
The strong rebound in Spain’s industrial output suggests that the manufacturing sector is gradually stabilizing after previous fluctuations, providing support for overall economic growth. The data, based on official INE releases, also shows a positive trend in the unadjusted original series.
