In August, industrial production dropped 3.1% over the same month last year, which represented a deterioration compared to the revised 2.7% contraction observed in July (previously reported: -2.6% year-on-year). With this result, industrial output has now declined during 12 consecutive months. The monthly drop was driven by a sharper contraction in manufacturing, whereas mining as well as electricity and gas production improved over the previous month. On a working day adjusted basis, industrial output fell 3.2%. The decline undershot both the revised 5.5% drop recorded in July (previously reported: -5.4% yoy) as well as market expectations of a 5.5% contraction. As a result of the larger contraction in August, the downward trend initiated at the beginning of 2011 and which was only briefly interrupted in July, resumed in August, with annual average growth in industrial production dropping from minus 4.9% in July to minus 5.2% in August.
Industrial production continues to contract
October 5, 2012
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Spain Industry Chart
Note: Year-on-year and annual average variation of industrial production index.
Source: National Statistical Institute (INE) and FocusEconomics calculations.
Spain Economic News
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms.
October 5, 2016
The Markit Purchasing Managers’ Index (PMI) Composite Output Index came in at 54.1 in September, which was slightly below August’s 54.8 reading.
September 30, 2016
Spain’s current account balance incurred a surplus of EUR 3.0 billion in July, which was above the EUR 2.7 billion surplus recorded in the same month of last year and marked the highest reading since December 2014.
September 29, 2016
In August, retail sales rose 4.9% over the same month last year as the discount season drew to an end.
September 29, 2016
In July, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 6,267 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento).