Spain Industry


Spain: Industrial production picks up pace in September

November 6, 2015

In September, industrial production rose 3.8% over the same month last year in working-day adjusted terms, which was above the revised 2.8% increase tallied in August (previous reported: +2.7% year-on-year). The print reflected an almost across-the-board acceleration in production across sectors, with only energy decreasing, compared to last month’s reading. As a result of September’s figure, annual average variation of industrial production continued to rise, increasing from 2.1% in August to 2.3%, which marked the best result since November 2007.

On a monthly basis, industrial production in September expanded 1.2% in working-day adjusted terms. The result contrasted the 1.4% contraction recorded in August and marked a six-month high.

FocusEconomics Consensus Forecast panelists see industrial production expanding 3.2% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees industrial output growth at 3.1%, which is also unchanged from last month’s estimate.

Author: Angela Bouzanis, Senior Economist

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Spain Industry Chart

Spain Industry September 2015

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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