Spain Industrial production November 2020

Spain

Spain: Industrial output shrinks for eleventh successive month in November

January 11, 2021

Industrial production contracted 3.8% year-on-year in seasonally- and calendar-adjusted terms in November, after falling 1.6% in October and marking the eleventh consecutive month of declining output.

November’s result reflected a broad-based deterioration across the index sub-components. Consumer and capital goods production, as well as energy output all fell at a sharper pace compared to October. Moreover, intermediate goods production lost traction.

On a seasonally- and calendar-adjusted monthly basis, factory output slid 0.9% in November, contrasting October’s 0.5% increase. Lastly, the trend deteriorated, with the annual average variation in industrial production coming in at minus 9.3%, down from minus 8.8% in the prior month.

FocusEconomics Consensus Forecast panelists see industrial production increasing 7.7% in 2021 and 4.0% in 2022.


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Spain Industry November 20 20

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


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