Spain: Industrial production decelerates slightly in April

In April, industrial production rose 2.7% over the same month last year in working-day adjusted terms, which was below the revised 2.9% increase tallied in March (previously reported: +2.8% year-on-year). The print reflected a deceleration in the production of intermediate goods, which was partially offset by an increase in production of capital and consumer goods. Annual average variation of industrial production was stable at March’s 3.6%.

On a monthly basis, industrial production in April recorded flat growth in working-day adjusted terms. The reading followed a 1.3% expansion tallied in March.

FocusEconomics Consensus Forecast panelists see industrial production expanding 3.1% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees industrial output growth at 2.8%.