Industrial production in Spain increased 2.4 percent year-on-year in January of 2019, recovering from a downwardly revised 5.9 percent fall in the previous month and against market expectations of a 1.4 percent drop. Output rebounded for energy (2.3 percent from -11.2 percent in December); consumer goods (3.1 percent from -3.1 percent), led by non-durable consumer goods (1.6 percent from -0.9 percent); capital goods (4.4 percent from -5.7 percent) and intermediate goods (0.6 percent from -4 percent). Meanwhile, durable consumer goods declined at a softer pace (-0.4 percent from -12.3 percent). Industrial Production in Spain averaged 1.01 percent from 1976 until 2019, reaching an all time high of 13.60 percent in February of 1977 and a record low of -21.70 percent in April of 2009.
Industrial Production in Spain is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Spain to stand at 2.20 in 12 months time. In the long-term, the Spain Industrial Production is projected to trend around 2.00 percent in 2020, according to our econometric models.