Spain Industry January 2016

Spain

Spain: Industrial production growth loses steam in January

March 8, 2016

In January, industrial production rose 3.5% over the same month last year in working-day adjusted terms, which was below the revised 4.1% increase tallied in December (previously reported: +3.7% year-on-year). The print reflected a deceleration in intermediate goods production as well as a deterioration in energy output. Despite January’s slowdown, annual average variation of industrial production continued to rise, increasing from 3.3% in December to 3.6% in January, which marked the best result since May 2007.

On a monthly basis, industrial production in January fell 0.1% in working-day adjusted terms. The reading followed December’s revised zero growth (previously reported: -0.2% month-on-month).

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%.


Author: Angela Bouzanis, Senior Economist

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Spain Industry January 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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