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Spain: Growth in industrial production accelerates to five-month high in October

December 5, 2014

In October, industrial production expanded a working-day adjusted 1.2% over the same month last year, which was above September’s 1.0% increase. The print, which represented the 12th consecutive monthly expansion and the strongest gain in five months, mainly reflected healthy growth in intermediate goods and consumer products.

Annual average variation of industrial production inched up from September’s 1.5% to 1.7% in October, thereby reaching the highest print since December 2007.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.7% in 2014, which is unchanged from last month’s forecast. For 2015, the panel sees industrial output growth at 2.3%, which is also unchanged over the previous month’s estimate.


Author: Ricard Torné, Lead Economist

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Spain Industry October 2014

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


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