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.
Author: David Ampudia, Economist