Industrial new orders received in Spain fell 1.7 percent year-on-year in December 2018, following a downwardly revised 22.3 percent gain in the previous month. It was the first decline in new factory orders, as demand dropped further for consumer goods (-6.6 percent compared to -1.4 percent in November), of which durable (-10.9 percent compared to 1.0 percent) and non-durable (-6.9 percent compared to -1.5 percent) and intermediate (-5.6 percent compared to -0.8 percent). Also, demand slowed for capital goods (5.1 percent compared to 82.6 percent) and energy (1.5 percent compared to 17.6 percent). Factory Orders in Spain averaged 1.92 percent from 2003 until 2018, reaching an all time high of 22.10 percent in November of 2018 and a record low of -33.60 percent in March of 2009.
Factory Orders in Spain is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Factory Orders in Spain to stand at 2.90 in 12 months time. In the long-term, the Spain Industrial New Orders Received YoY is projected to trend around 2.80 percent in 2020, according to our econometric models.