Spain Industry


Industrial production expands again in December

In December, industrial production rose a working-day adjusted 1.7% over the same month of the previous year. The print followed the 2.4% increase recorded in November (previously reported: +2.6% year-on-year), which had marked the fastest acceleration since February 2011. December's print mainly reflected lower growth in consumer goods, capital goods and intermediate products.

In the full year 2013, industrial production declined 1.6%, which marked an improvement over the 6.6% drop tallied in 2012.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.6% in 2014, which is up 0.7 percentage points from last month's forecast. For 2015, the panel sees industrial output growth at 2.5%.

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Spain Industry Chart

Spain Industry December 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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