Spain's industrial production rises by 1.4 pct in 2014

Spain's industrial production rose by 1.4 percent 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 percent in 2014, with production of durable consumer goods falling by 2.2 percent and production of non-durable consumer goods rising by 1.8 percent.

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

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

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

This was the first time industrial production rose by the end of the year since 2007, when industrial production rose by 2.4 percent. 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 the third quarter of 2013 and according to the INE the country's GDP grew by 1.4 percent in 2014. Endit