Spain Industry August 2016

Spain

Spain: Industrial production accelerates rapidly in August

In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms. The reading was notably above the revised 0.4% increase recorded in July (previously reported: +0.3% year-on-year), the lowest reading since December 2014. The print reflected a broad-based acceleration in all subcomponents, with output of capital goods increasing the most. Annual average variation of industrial production edged up from 2.7% in July to 2.8% in August.

On a monthly basis, industrial production increased 1.4% in working-day adjusted terms in August, which was well above the 0.1% reading registered in July and marked the largest increase in almost a year.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.5% in 2016, which is down 0.4 percentage points from last month’s forecast. For 2017, the panel sees industrial output growth at 2.6%.


Author:, Economist

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Spain Industry August 2016

Note: Year-on-year and annual average variation of working-day adjusted industrial production index.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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