Spain industrial output falls 1.6pc y/y in October

Spain's calendar-adjusted industrial output contracted 1.6pc year-on-year in October, data from the National Statistics Institute showed on Wednesday.

The contraction is narrower than the 2.6pc analysts polled by Reuters had expected as the country's companies struggled with the effects of COVID-19 restrictions on the economic activity.

INE revised September data to a 3.1pc contraction from a previous 3.4pc decline.