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

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MNI: SPAIN DATA: Industrial Production (Mar 2019) Preview - 08:00 BST
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- Bloomberg Consensus: 0.3% m/m, -1.2% y/y; Previous (Feb): -1.1% m/m, -0.3% y/y
- Markets look for Spanish IP to have risen marginally on the month in Mar, but
for the annual rate to fall further into negative territory on base effects
- Feb's m/m dip reflected weaker dynamics across all major sectors, led by
energy (-3.7%)...
- ... while output of consumer (-1.2%), capital (-0.6%) & intermediate (-0.3%)
goods fell more mildly
- With production having risen in Jan (+3.6%) at the strongest monthly pace
since Aug 2001...
- ... IP is likely to register its first quarterly gain in Q1 since Q4 2017
- Fwd-looking indicators suggest output should continue to expand modestly in Q2
- Industrial new orders rose by 2.8% m/m in Feb...
- ... while Spain's manufacturing PMI stood at a 3-month high of 51.8 in Apr,
driven by stronger gains in both production & new orders

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