Spain Industry


Industrial production contracts in August

In August, industrial production contracted a working-day adjusted 2.0% over the same month last year. The print represents a deterioration over the 1.2% decline seen in July (previously reported: -1.4% year-on-year) and marks the steepest contraction since February. The contraction in August mainly reflects a decline in capital goods and a faster pace of contraction in the energy category.

In August, annual average variation in industrial production remained at July's 3.8% and thus the trend stabilized after having been on an upward trajectory since March.

FocusEconomics Consensus Forecast panelists see industrial production contracting 2.6% in 2013, which is up 0.6 percentage points from last month's forecast. For 2014, the panel sees industrial output rebounding to a 0.3% rise, which is up 0.8 percentage points over the previous month's estimate.

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Spain Industry Chart

Spain Industry August 2013

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

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