Spain Industrial Output Drops 15th Month on Recession
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Industrial output in Spain dropped for a 15th straight month in November and almost twice as much as economists predicted as the recession in Europe’s fourth largest economy deepens.
Output at factories, refineries and mines adjusted for the number of working days fell 7.2 percent from a year earlier, after declining a revised 3.1 percent in October, the National Statistics Institute in Madrid said in an e-mailed statement today. Economists forecast a drop of 4 percent, according to the median of five estimates in a Bloomberg News survey.