Spain: Industrial production slips in February
April 5, 2019
Industrial production slipped 0.3% year-on-year in seasonally- and calendar-adjusted terms in February, contrasting January’s revised 2.7% increase (previously reported: +2.4% year-on-year). In turn, annual average industrial output growth edged down to 0.3% in February from 0.5% in January.
February’s dip reflected weaker dynamics across all major sectors. The production of consumer and capital goods lost pace compared to January while energy and intermediate goods output swung to contraction in February.
On a month-on-month basis, adjusted for seasonal and calendar effects, factory output declined 1.1% in February, contrasting the solid 3.6% rise logged in January.
Spain Industrial Production Forecast
FocusEconomics Consensus Forecast panelists see industrial production expanding 0.8% in 2019, which is down 0.3 percentage points from last month’s forecast, and 1.6% in 2020.
Author: Javier Colato, Economist
