Spain: Industrial production contracts in August
October 8, 2013
In August, industrial production contracted a working-day adjusted 2.0% over the same month last year. The print represents a deterioration over the 1.2% decline seen in July (previously reported: -1.4% year-on-year) and marks the steepest contraction since February. The contraction in August mainly reflects a decline in capital goods and a faster pace of contraction in the energy category.
In August, annual average variation in industrial production remained at July's 3.8% and thus the trend stabilized after having been on an upward trajectory since March.
FocusEconomics Consensus Forecast panelists see industrial production contracting 2.6% in 2013, which is up 0.6 percentage points from last month's forecast. For 2014, the panel sees industrial output rebounding to a 0.3% rise, which is up 0.8 percentage points over the previous month's estimate.
Author: Armando Ciccarelli, Head of Data Solutions