Industrial new orders received in Spain increased 0.8 percent from a year earlier in July 2019, following a downwardly revised 0.7 percent gain in the previous month. Demand rebounded for consumer durable goods (0.7 percent from -2.5 percent in June); intermediate goods (0.6 percent from -3.9 percent); and energy products (-5 percent from -9.4 percent). On the other hand, demand for capital goods dropped (-0.8 percent from 9.8 percent) and for non-durable consumer goods eased (2.9 percent from 3.2 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 -33.60 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.