Spain Industry


Spain: Industrial production eases from over-decade high in August

October 7, 2015

In August, industrial production rose 2.7% over the same month last year in working-day adjusted terms, which was below the 5.2% increase tallied in July. July’s result had marked the largest expansion in over a decade. The print reflected a broad-based deceleration in production across sectors. Despite August’s moderation, annual average variation of industrial production continued to rise, increasing from 1.9% in July to 2.1% in August, which marked the best result since November 2007.

On a monthly basis, industrial production contracted 1.4% in working-day adjusted terms in August. The result contrasted the 0.7% rise recorded in July and marked an over-two-year low.

FocusEconomics Consensus Forecast panelists see industrial production expanding 3.2% in 2015, which is up 0.7 percentage points from last month’s forecast. For 2016, the panel sees industrial output growth at 3.1%.

Author: Angela Bouzanis, Senior Economist

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Spain Industry Chart

Spain Industry August 2015

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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