Spain Industry September 2016

Spain

Spain: Industrial production growth moderates in September

In September, Spanish industrial production expanded 0.8% from the same month last year in working-day adjusted terms. The reading was markedly below the revised 4.3% increase recorded in August (previously reported: +4.0% year-on-year), which had marked the highest reading in almost a year. According to the Statistical Institute (Instituto Nacional de Estadística, INE), increases in output for intermediate goods and energy were partially offset by a decrease in the production of capital goods. Annual average variation in industrial production edged down from 2.8% in August to 2.6% in September.

On a monthly basis, industrial production fell 1.4% in working-day adjusted terms in September, which contrasted the 1.6% increase seen in August and marked the lowest reading in more than a year.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.5% in 2016, which is down 0.4 percentage points from last month’s forecast. For 2017, the panel sees industrial output growth at 2.6% which is down 0.2 percentage points from last month’s estimate.


Author:, Economist

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Spain Industry September 2016

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


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