Industrial new orders received in Spain decreased 0.7 percent year-on-year in January 2019, following an upwardly revised 2.6 percent decline in the previous month. Demand rebounded for consumer goods (4.1 percent compared to -6.6 percent in December), of which durable (4.5 percent compared to -10.6 percent) and non-durable (4.5 percent compared to -7.1 percent) and intermediate (2.0 percent compared to -5.6 percent). On the other hand, demand dropped for capital goods (-8.5 percent compared to 4.4 percent) and energy (-4.7 percent compared to 1.4 percent). Factory Orders in Spain averaged 1.91 percent from 2003 until 2019, reaching an all time high of 25.40 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 3.80 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.