Spain: Industrial production records largest increase in nearly three years
January 10, 2014
In November 2013, industrial production rose a working-day adjusted 2.6% over the same month of the previous year. The print contrasts the 1.3% drop recorded in October (previously reported: -0.8% year-on-year) and marks the fastest acceleration since February 2011. The increase reflects a broad-based improvement, with capital goods and intermediate products recording the largest increases.
Annual average variation in industrial production rose from minus 3.3% in October to minus 2.4% in November, marking the highest level since January 2012.
FocusEconomics Consensus Forecast panelists see industrial production expanding 0.9% in 2014, which is up 0.4 percentage points from last month's forecast. For 2015, the panel sees industrial output growth at 2.2%.