Spain Industry


Industrial production records third consecutive expansion in January

In January, industrial production rose a working-day adjusted 1.1% over the same month last year. The print followed the 2.2% increase recorded in December (previously reported: +1.7% year-on-year) and marked the third consecutive month of expansion in industrial output. January's print mainly reflected faster growth in both consumer and capital goods, whereas the energy category experienced a sizeable contraction. Annual average variation in industrial production rose from minus 1.5% in December to minus 1.0% in January, marking the highest level since October 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 January 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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