June 8, 2015

In April, industrial output expanded 1.5% over the same month last year in working-day adjusted terms, according to the National Statistical Institute. The figure was below March’s 2.6% increase. April’s reading was the lowest in three months and reflected a contraction in mining and quarrying as well as a significant deceleration in the manufacturing sector.



On a month-on-month basis, industrial production increased a seasonally-adjusted 0.2% in April, which contrasted the 1.4% contraction recorded in the previous month. Average growth in industrial production fell from March’s 1.3% to 1.0% in April.

FocusEconomics Consensus Forecast participants see industrial production expanding 3.2% in 2015, which is unchanged from last month’s Consensus. For 2016, panelists see industrial output growing 10.3%.