Spain Industry January 2017


Spain: Industry growth led by energy production in January

March 8, 2017

Industrial production in Spain expanded 2.5% in working-day adjusted terms in January compared to the same month last year, above December’s revised 2.0% increase (previously reported: +1.9% year-on-year). According to the National Statistical Institute, January’s growth was uneven across the sub-components of the index. Energy production grew at a multi-year high, while intermediate goods production lost steam. Both consumer and capital goods production contracted in January, the former dipping into contractionary territory for the first time in nearly two years.

On a monthly basis, industrial production expanded by 0.3% in January when adjusting for seasonal and calendar effects, beginning the new year on the right foot after rebounding from December’s 0.5% decrease.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.3% in 2017, which is unchanged from last month’s forecast. For 2018, the panel sees industrial production growth at 2.2%.

Author:, Economist

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Spain Industry Chart

Spain Industry January 2017

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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