Industrial new orders received in Spain rose 2.0 percent year-on-year in March 2019, following an upwardly revised 5.1 percent surge in the previous month. Demand softened for consumer goods (0.3 percent vs 2.0 percent in February) and capital goods (4.2 percent vs 11.2 percent) while it decreased for intermediate goods (-0.4 percent vs 2.4 percent). In contrast, demand increased faster for energy (11.5 percent vs 8.4 percent). On a seasonally adjusted monthly basis, industrial orders declined 1.9 percent, after an upwardly revised 3.2 percent gain in the previous month. Factory Orders in Spain averaged 1.94 percent from 2003 until 2019, reaching an all time high of 25.50 percent in November of 2018 and a record low of -33.70 percent in March of 2009.
Factory Orders in Spain is expected to be 3.60 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.