Industrial Production (Jul 2019).........>

SPAIN DATA: Industrial Production (Jul 2019) Preview - 08:00 BST 11/9/1019

--------------------------------------------------------------------------- 

- Bbg Cons: -0.3% m/m, 1.5% y/y; Prev (Jun): -0.2% m/m, 1.8% y/y 

- Markets look for m/m Spanish IP to decline in the first month of Q3, with a

0.3% fall pencilled in for July. 

- Y/Y output is expected to grow by 1.5% in Jul, which would be the fourth

consecutive positive rate.

- Forward-looking indicators provide mixed signals. 

- Industrial new orders rebound to 1.0% m/m in June.

- Meanwhile, Spain's manufacturing PMI (48.8) remained in contraction for the

third month in a row in Aug, with output seeing the sharpest fall since May 2013

and new orders declining further. 

- However, the EC's Business and Consumer survey suggests that industry

sentiment in Spain rebound in August, with the index revealing the first

positive rate (1.6) since May 2018.