Spain Industry October 2019

Spain

Spain: Industrial production falls for first time in seven months in October

December 5, 2019

Industrial production dipped 1.3% year-on-year in seasonally- and calendar-adjusted terms in October, contrasting September’s 0.6% rise (previously reported: +0.8% year-on-year) and marking the first fall in seven months. The annual average variation in industrial output ticked down to minus 0.2% in October from minus 0.1% in September.

October’s downturn was mainly driven by a decline in consumer goods and energy production. Moreover, intermediate goods output contracted for the sixth month in a row. Meanwhile, production of capital goods production slowed in October.

On a month-on-month basis, adjusted for seasonal and calendar effects, factory output fell 0.4% in October, following the 0.8% slip recorded in September.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.3% in 2020, which is unchanged from last month’s forecast, and 1.8% in 2021.


Author:, Economist

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Spain Industry October 2019 0

Note: Year-on-year and annual average variation of seasonal-and calendar-adjusted industrial production index in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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