MNI: SPAIN DATA: Industrial Production (Feb 2019)....>

MNI: SPAIN DATA: Industrial Production (Feb 2019) Review

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- Spain's industrial production declined by 0.3% y/y in Feb, falling more

sharply than expected by markets (-0.1%)

- Jan saw a slight upward revision to 2.7% from an originally reported 2.4%

- On the month, output fell by 1.1% after a 3.6% gain in Jan, with all

sub-sectors seeing a decline

- The breakdown of the data shows that energy output was the main source of

downward pressure, slumping 6.1% on the year

- Intermediate goods output also declined, albeit by a milder 0.5% y/y

- Capital (3.4%) and consumer (1.3%) goods both saw yearly gains, helping to

limit the overall production decline

- Spain's data follows stronger-than-expected industrial output in Germany in

Feb...

- ...as such, prospects for a rise in Feb EZ-wide IP remain on track