Industrial Production (Jan 2020).........>

SPAIN DATA: Industrial Production (Jan 2020) Preview - 08:00GMT 06/03/2020

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- Bbg Cons: 0.5% m/m, -1.4% y/y; Prev (Dec): -1.4% m/m, 0.8% y/y 

- Monthly IP slumped to -1.4% in Dec, its lowest level since Nov 2018 and

markets look look for a rebound in Jan. 

- Dec's drop was mainly led by a sharp drop in energy and capital goods

production 

- Annual output is expected to decrease for the second consecutive month, with

markets pencilling a downtick to -1.4%. 

- After Nov's rise to a 7-month high of 1.6% y/y, output slowed to 0.8% in Dec

- Spain's mfg PMI jumped above the 50-mark in Feb after 8 months in contraction.

- Feb's uptick was led by gains in output and new orders, but also supplier

deliveries as lead times lengthened due to supply chain disruptions caused by

Chinese factory shutdowns. 

- The European Commission's ESI showed an uptick in Spain's industrial sentiment

in Feb, however the index has been in negative territory since Sep 2019.