Spain Industry November 2016

Spain

Spain: Industrial production growth accelerates in November

January 11, 2016

Industrial production expanded 3.2% in working-day adjusted terms in November compared to the same month last year, well above the previous month’s feeble 0.6% increase. According to the National Statistical Institute (INE), November saw increases across all subcomponents of the index, with intermediate goods rising at a 10-month high and consumer goods speeding up after a meagre reading in October. Despite the improvement, the annual average variation in industrial production slipped down from 2.3% in October to 2.2% in November, the lowest figure in over a year.

On a monthly basis, industrial production rose by 1.8% in November when adjusting for seasonal and calendar effects, above October’s tepid 0.1% increase.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.0% in 2017, which is unchanged from last month’s forecast. For 2018, the panel sees industrial output growth at 2.3%.


Author:, Economist

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