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

MNI: SPAIN DATA: Industrial Production (Jun 2019) Preview - 08:00 BST

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- Bbg Cons: -1.0% m/m, 1.1% y/y; MNI: 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