Spain Industry December 2016


Spain: Industrial production growth eases in December

February 8, 2017

Industrial production in Spain expanded 1.9% in working-day adjusted terms in December compared to the same month last year, well below November’s revised 2.8% increase (previously reported: +3.2% year-on-year). According to the National Statistical Institute, December saw increases across most sub-components of the index, with intermediate goods growth reaching a one-year high. Meanwhile, growth in consumer goods slowed after a strong reading in November and production of capital goods fell 1.2%, contrasting with November’s 1.8% growth.

On a monthly basis, industrial production contracted by 0.5% in December when adjusting for seasonal and calendar effects, dipping into negative territory after November’s revised 1.5% increase (previously reported: +1.8% month-on-month).

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.3% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, the panel also sees industrial production growth at 2.3%.

Author:, Economist

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Spain Industry Chart

Spain Industry December 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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