Industrial new orders received in Spain rose 0.9 percent from a year earlier in June 2019, recovering from a 2 percent drop in the previous month, as demand for capital goods rebounded sharply (10.0 percent vs -10.5 percent in May). In addition, orders for non-durable consumer goods increased at a faster pace (3.3 percent vs 2.1 percent). By contrast, there was a decline in demand for energy products (-9.5 percent vs -2.5 percent), intermediate goods (-3.9 percent vs 0.8 percent), and consumer durable goods (-2.8 percent vs -2.4 percent). Factory Orders in Spain averaged 1.98 percent from 2003 until 2019, reaching an all time high of 25.60 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 3.20 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 2.40 in 12 months time. In the long-term, the Spain Industrial New Orders Received YoY is projected to trend around 2.20 percent in 2020, according to our econometric models.