Spain Industry July 2016

Spain

Spain: Growth in industrial production decelerates further in July

September 9, 2016

In July, industrial production rose 0.3% over the same month last year in working-day adjusted terms, which was well below the 0.8% increase recorded in June and marked the lowest reading since December 2014. The print reflected a notable deceleration in the production of consumer goods, which more than offset a faster rate of growth in intermediate and capital goods production. Annual average variation of industrial production edged down from 3.1% in June to 2.6% in July.

On a monthly basis, industrial production increased a timid 0.2% in working-day adjusted terms in July, which matched the reading registered in the previous month.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.9% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees industrial output growth at 2.6%.


Author:, Economist

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Spain Industry July 2016 0

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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