Spain Industry May 2016


Spain: Industrial production decelerates further in May

July 7, 2016

In May, industrial production rose 1.0% over the same month last year in working-day adjusted terms, which was below the revised 2.6% increase tallied in April (previously reported: +2.7% year-on-year). The print reflected a contraction in the production of intermediate goods and a deceleration in the production of capital and consumer goods. Annual average variation of industrial production edged down from 3.6% in April to 3.4% in May.

On a monthly basis, industrial production in May dropped 0.5% in working-day adjusted terms. The reading followed the 0.1% decrease tallied in April.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.8% 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:, Senior Economist

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Spain Industry Chart

Spain Industry May 2016

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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