In May, industrial production contracted a working-day adjusted 0.4% over the same month last year, following the revised 1.5% decrease observed in April (previously reported: -1.6% year-on-year). The reading saw industrial output drop for a third consecutive month and defied market expectations, which had output remaining unchanged from April. Weak consumer demand and rising concerns regarding the pace of the economic recovery contributed to the dismal result. The monthly drop was broad-based, as all sub-indices but manufacturing contracted over the same month the previous year in working-day adjusted terms. As a result of the monthly drop, annual average growth in industrial production eased from 0.9% in April to 0.6% in May, marking the third consecutive deceleration. The Central Bank anticipates the economy to expand 0.8% this year, and to accelerate further to 1.5% in 2012. These projections are below government expectations of a 1.3% expansion this year and growth of 2.3% in 2012.
Industrial production drops for a third consecutive month
July 6, 2011
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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).