In June, industrial production dropped 6.9% over the same month last year, which represented a deterioration compared to the revised 5.7% contraction observed in May (previously reported: -5.4% year-on-year). The figure marked the 10th consecutive month of declining industrial output. The monthly result was driven by a deterioration in all sub-sectors composing the index, particularly by plummeting growth in mining output. On a working day adjusted basis, industrial output fell 6.3%. The decline slightly undershot the revised 6.5% drop recorded in May (previously reported: -6.1% yoy) and came in virtually in line with market expectations of a 6.2% contraction. As a result of the monthly contraction, the trend continues to point downwards, with annual average growth in industrial production falling from minus 4.8% in May to minus 5.1% in June.
Industrial production declines for 10th consecutive month
August 8, 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).