Spain's industrial production rose 0.8 percent from a year earlier in July 2019, following a downwardly revised 1.6 increase in the previous month and below market expectations of a 1.5 percent gain. It was the smallest annual increase in industrial activity since March, as output fell for capital goods (-2.2 percent vs 3.0 percent in June) and intermediate goods (-2.0 percent, the same pace as in the previous month). On the other hand, production advanced faster for energy (7.4 percent vs 5.9 percent) and consumer goods (2.2 percent vs 2.1 percent), of which non-durable consumer goods (2.7 percent vs 2.6 percent). On a monthly basis, industrial output declined 0.4 percent, after a 0.2 percent drop in the preceding month. Industrial Production in Spain averaged 1 percent from 1976 until 2019, reaching an all time high of 13.60 percent in February of 1977 and a record low of -21.80 percent in April of 2009.
Industrial Production in Spain is expected to be 1.50 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 1.60 in 12 months time. In the long-term, the Spain Industrial Production is projected to trend around 1.90 percent in 2020, according to our econometric models.