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Spanish Industrial Output Falls 6.5 percent in February

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Output dropped by 6.5% compared with the same month a year earlier. It followed a 4.9% decline in January.

Industrial production in the country has been falling constantly since August 2011.

Spain, which is the fourth biggest eurozone economy, has been mired in recession since the second half of 2011.

The country has one of the highest unemployment rates in the eurozone – at about 26%. It is suffering from a troubled banking sector, excessive household and company debts, and tough government austerity measures.

Meanwhile, figures showed that industrial production in France bounced back in February, gaining 0.7% on the previous month.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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