Spain: Industrial production slows to a five-month low in March
May 8, 2014
In March, industrial production rose a working-day adjusted 0.6% over the same month last year, which represented the weakest expansion since October 2013. The print followed the revised 2.5% increase recorded in February (previously reported: +2.8% year-on-year) and marked the fifth consecutive month of expansion in industrial output. March's print mainly reflected a contraction in consumer goods as well as slower growth in both capital goods and intermediate products.
Annual average variation in industrial production rose from minus 0.4% in February to minus 0.1% in March, marking the highest level since September 2011.
FocusEconomics Consensus Forecast panelists see industrial production expanding 1.3% in 2014, which is unchanged from last month's forecast. For 2015, the panel sees industrial output growth at 2.3%.