Spain Industry December 2018

Spain

Spain: Industrial production logs sharpest contraction in six years in December

February 7, 2019

Industrial production plunged 6.2% year-on-year in seasonally- and calendar-adjusted terms in December, following November’s revised 3.2% decline (previously reported: -2.6% year-on-year) and marking the sharpest contraction in six years. In turn, annual average industrial output growth dipped to a paltry 0.3% in December from 1.3% in November.

December’s result reflected a contraction in output across all major sectors. The production of consumer, capital and intermediate goods suffered a sharper decline compared to the previous month. Meanwhile, energy output contracted for the third successive month in December.

On a month-on-month basis, adjusted for seasonal and calendar effects, factory output dipped 1.4% in December, following the 1.8% fall logged in November.

Spain Industrial Production Forecast


FocusEconomics Consensus Forecast panelists see industrial production expanding 2.0% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.8% in 2020.


Author:, Economist

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Spain Industry Chart


Spain Industry December 2018 0

Note: Year-on-year and annual average variation of seasonal-and calendar-adjusted industrial production index.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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