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Spain: Industrial production slows again in June

August 7, 2014

In June, industrial production rose a working-day adjusted 0.8% over the same month last year. June’s print represented a deceleration compared to the 2.5% increase recorded in May, but it did represent the eighth consecutive month of expansion in industrial output. The print mainly reflected a broad-based deterioration, with consumer goods decelerating sharply and capital goods contracting in June.

Nevertheless, annual average variation of industrial production rose from 1.0% in May to 1.2% in June, marking the highest level since February 2011.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.6% in 2014, which is up 0.2 percentage points from last month’s forecast. For 2015, the panel sees industrial output growth at 2.3%.


Author: Ricard Torné, Head of Economic Research

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Spain Industry June 2014

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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