Spain Industry


Industrial production records largest expansion in over three years in February

In February, industrial production rose a working-day adjusted 2.8% over the same month last year, which represented the largest expansion since November 2010. The print followed the 1.3% increase recorded in January and marked the fourth consecutive month of expansion in industrial output. February's print mainly reflected faster growth in both capital goods and intermediate products.

Annual average variation in industrial production rose from minus 1.0% in January to minus 0.3% in February, marking the highest level since September 2011.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.3% in 2014, which is unchanged from last month's forecast. For 2015, the panel sees industrial output growth at 2.3%.

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Spain Industry Chart

Spain Industry February 2014

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

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