Spain's industrial production dropped 2.6 percent from a year earlier in November 2018, the most since May 2013, following a downwardly revised 0.7 percent growth in the previous month. Energy output posted the largest decline (-5.6 percent vs -1 percent in October), followed by intermediate goods (-3 percent vs 0.4 percent), non-durable consumer goods (-1.1 percent vs 0.2 percent), consumer durable goods (-1 percent vs -0.1 percent), and capital goods (-0.6 percent vs 3 percent). On a monthly basis, industrial production dropped 1.5 percent in November, reversing a 1.1 percent gain in October. Industrial Production in Spain averaged 1.02 percent from 1976 until 2018, 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.