FX.co ★ Spain Factory Activity Logs First Decline in 10 Months

In December 2025, Spain's industrial production experienced a 0.3% decline compared to the previous year, marking the first drop since February 2025. This followed an upwardly revised increase of 4.6% in the preceding month. The decrease was primarily attributed to reductions in the output of durable consumer goods, which fell by 2% compared to a 3.3% decline in November. Similarly, intermediate goods contracted by 1.6% following a previous 3.2% rise, and capital goods saw a reduction of 0.8% compared to a 1.5% increase previously. Meanwhile, growth in energy production slowed to 3.9% from 7.4%, and the expansion of non-durable consumer goods reduced to 0.8% from 3.8%. On a seasonally adjusted monthly basis, industrial activity contracted by 2.5% in December, after an upward adjustment to a 1.1% increase in the prior month.