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Industrial production logs sharpest contraction in six years in December

Industrial production plunged 6.2% year-on-year in seasonally- and calendar-adjusted terms in December, following November’s revised 3.2% decline (previously reported: -2.6% year-on-year) and marking the sharpest contraction in six years. In turn, annual average industrial output growth dipped to a paltry 0.3% in December from 1.3% in November.

December’s result reflected a contraction in output across all major sectors. The production of consumer, capital and intermediate goods suffered a sharper decline compared to the previous month. Meanwhile, energy output contracted for the third successive month in December.

On a month-on-month basis, adjusted for seasonal and calendar effects, factory output dipped 1.4% in December, following the 1.8% fall logged in November.


Spain Industrial Production Forecast


FocusEconomics Consensus Forecast panelists see industrial production expanding 2.0% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.8% in 2020.

Spain - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-1.6  1.2  3.2  1.9  3.1  

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Spain Industry Chart


Spain Industry
Note: Annual variation of industrial production in %.
Source: National Statistical Institute (INE).

Spain Facts

ValueChangeDate
Bond Yield1.295.62 %Feb 19
Exchange Rate1.130.65 %Feb 20
Stock Market9,181-0.74 %Feb 20

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