Spain Industrial production September 2021


Spain: Industrial output records lowest expansion since February in September

November 5, 2021

Industrial output expanded 1.2% year-on-year in seasonally- and calendar-adjusted terms in September, which was a deterioration from August's 1.8% increase. September's result marked the worst reading since February. September's downturn came on the back of a deterioration in capital goods and intermediate goods output. However, consumer goods production gained traction.

On a monthly basis, factory output grew 0.3% in seasonally-adjusted terms in September, rebounding from August’s 0.2% fall. Meanwhile, annual average industrial production growth rose to 6.2% in September (August: +5.8%). This signals an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists see industrial production increasing 3.8% in 2022 and 2.3% in 2023.

Author: Massimo Bassetti, Senior Economist

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