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Spanish Industrial Output Falls for 13th Month Amid Slump
Industrial production in Spain, the euro-area’s fourth largest economy, dropped for the 13th straight month in September amid a deepening recession that’s left a quarter of the workforce jobless. Output at factories, refineries and mines adjusted for the number of working days fell 7 percent from a year earlier, after declining a revised 2.5 percent in August, the National Statistics Institute in Madrid said in an e-mailed statement today. That’s the most since April. Economists forecast a drop of 3.5 percent, according to the median of seven estimates in a Bloomberg News survey. Spanish Prime Minister Mariano ... (full story)