Spain Industry May 2019


Spain: Industrial production slows in May

July 5, 2019

Industrial production rose 1.4% year-on-year in seasonally- and calendar-adjusted terms in May, moderating from April’s 1.8% increase. Despite the upturn, the annual average variation in industrial output remained at minus 0.3% in May, which had turned negative for the first time in five years in March.

The production of capital goods slowed while intermediate goods output contracted compared to April. Consumer goods production, however, picked up and energy output rebounded in June.

On a month-on-month basis, adjusted for seasonal and calendar effects, factory output climbed a mild 0.3% in May, following the strong 1.8% rise logged in April.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.0% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.6% in 2020.

Author:, Economist

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Spain Industry Chart

Spain Industry May 2019

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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