MNI Data Preview: Spanish Industrial Production June 2019

     LONDON (MNI) - SPAIN DATA: Industrial Production (Jun19) Preview (08:00BST)

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- Bbg Consensus: -1.0% m/m, 1.1% y/y; MNI Median: 0.8% y/y; Prev (May): 0.3%

m/m, 1.4% y/y 

- Markets look for m/m Spanish IP to decline for the first time in Q2, with a

1.0% downturn pencilled in for Jun 

-...which would leave Q2's growth rate at 0.6% after Q1's 1.2% quarterly gain,

the strongest since Q4 2017 

- Fwd-looking indicators paint a downbeat picture for Spanish industry 

- Industrial new orders fell significantly in May by -9.1% 

- Meanwhile, Spain's manuf PMI revealed a 74-month low (47.9) in Jun, followed

by a small uptick in Jul (48.2)...

-...as output and new orders continued to decline due to weak market demand and

perceived concerns over the future health of the global economy 

- The EC's Business and Consumer survey suggests that industry sentiment in

Spain improved marginally in July (-3.0 after -4.8 in June), however, the index

remains in negative territory since May 2018

--MNI London Bureau; +44 0203 865 3814; email: irene.prihoda@marketnews.com

[TOPICS: MASPR$,M$E$$$,M$S$$$,M$X$$$]