La sagrada familia in Spain

Spain Industry

Spain Industry

Industrial Production in Spain

Spain's economy recorded average industrial production growth of 1.0% in the decade to 2022, slightly below the 1.1% average for the Euro Area. In 2022, industrial production growth was 2.8%. For more industry information, visit our dedicated page.

Spain Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for Spain from 2014 to 2023.
Source: INE.

Spain Industry Data

2019 2020 2021 2022 2023
Industrial Production (ann. var. %) 0.4 -9.5 8.1 2.2 -1.2

Industrial activity dips in May

Industrial production fell 0.1% month-on-month in seasonally adjusted terms in May (April: +0.2% mom). Looking at the details of the release, consumer goods production contracted at a softer rate in May, while capital goods output swung to contraction. More positively, intermediate goods output grew at a stronger pace. On a seasonally and calendar adjusted annual basis, industrial output rose at a quicker rate of 0.4% in May (April: +0.2% yoy). Moreover, the trend improved, with the annual average variation of industrial production coming in at minus 1.0% in May, up from April's minus 1.2% reading.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Spanish industry projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Spanish industry.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Spanish industry projections.

Want to get access to the full dataset of Spanish industry forecasts? Send an email to info@focus-economics.com.

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