Spain Industry August 2019

Spain

Spain: Industrial production picks up in August

October 8, 2019

Industrial production increased 1.7% year-on-year in seasonally- and calendar-adjusted terms in August, up from July’s revised 1.2% rise (previously reported: +0.8% year-on-year). As a result, the annual average variation in industrial output ticked up to minus 0.1% in August from minus 0.2% in July.



August’s quickening largely reflected a rebound in capital goods production and an acceleration in consumer goods output compared to July. Meanwhile, growth in energy production moderated and intermediate goods output declined for the fourth consecutive month.



On a month-on-month basis, adjusted for seasonal and calendar effects, factory output rose 0.9% in August, contrasting the revised 0.2% contraction recorded in July (previously reported: -0.4% month-on-month).

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.2% in 2019, which is up 0.1 percentage points from last month’s forecast, and 1.6% in 2020, which is unchanged from last month’s estimate.


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Spain Industry August 2019

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


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