Spain Industry February 2017

Spain

Spain: Industrial production growth steady in February

April 7, 2017

Industrial production in Spain expanded 2.5% in working-day adjusted terms in February compared to the same month last year, slightly below January’s revised 2.6% increase (previously reported: +2.5% year-on-year). The reading failed to live up to market expectations, which had expected growth of 3.1% in February. According to the National Statistical Institute, energy production, intermediate goods and capital goods all grew at respectable paces and more than offset a decrease in non-durable consumer goods output.

On a monthly basis, industrial production shrank by 0.2% in February when adjusting for seasonal and calendar effects, which contrasted with January’s 0.3% expansion.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.3% in 2017, which is unchanged from last month’s forecast. For 2018, the panel sees industrial production growth at 2.2%.


Author:, Economist

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Spain Industry February 2017

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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