Spain Industry


Industrial production records largest increase in nearly three years

In November 2013, industrial production rose a working-day adjusted 2.6% over the same month of the previous year. The print contrasts the 1.3% drop recorded in October (previously reported: -0.8% year-on-year) and marks the fastest acceleration since February 2011. The increase reflects a broad-based improvement, with capital goods and intermediate products recording the largest increases.

Annual average variation in industrial production rose from minus 3.3% in October to minus 2.4% in November, marking the highest level since January 2012.

FocusEconomics Consensus Forecast panelists see industrial production expanding 0.9% in 2014, which is up 0.4 percentage points from last month's forecast. For 2015, the panel sees industrial output growth at 2.2%.

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Spain Industry Chart

Spain Industry November 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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