Spain Industry November 2019

Spain

Spain: Industrial production recovers solidly in November

January 10, 2020

Industrial production rose a strong 2.1% year-on-year in seasonally- and calendar-adjusted terms in November, rebounding from October’s 1.3% dip and marking a 10-month high. The annual average variation in industrial output swung from a 0.2% contraction in October to a 0.2% expansion in November.

November’s upturn was mainly driven by a rebound in the production of consumer and intermediate goods. Moreover, capital goods output quickened markedly in the month. Meanwhile, energy production contracted again, albeit at a softer pace compared to October.

On a month-on-month basis, adjusted for seasonal and calendar effects, factory output climbed 1.0% in November, also rebounding strongly from the 0.5% slip recorded in October.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.3% in 2020, which is unchanged from last month’s forecast, and 1.8% in 2021.


Author:, Economist

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Spain Industry November 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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