Spain Industry January 2019


Spain: Industrial production rebounds from sharpest contraction in six years in January

March 8, 2019

Industrial production increased 2.4% year-on-year in seasonally- and calendar-adjusted terms in January, contrasting December’s revised 5.9% decline (previously reported: -6.2% year-on-year), which had marked the sharpest contraction in six years. In turn, annual average industrial output growth ticked up to 0.5% in January from 0.3% in December.

January’s rebound reflected a return to growth in output across all major sectors. The production of consumer, capital and intermediate goods rose after contracting in the previous month while energy output broke a three-month streak of declines, rebounding solidly in January.

On a month-on-month basis, adjusted for seasonal and calendar effects, factory output climbed 3.4% in January, contrasting the 1.2% fall logged in December.

Spain Industrial Production Forecast

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.1% in 2019, which is down 0.9 percentage points from last month’s forecast, and 1.5% in 2020.

Author:, Economist

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Spain Industry Chart

Spain Industry January 2019 1

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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