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

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MNI: SPAIN DATA: Industrial Production (May 2019) Preview - 08:00 BST
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- Bloomberg Consensus: -0.5% m/m, 0.6% y/y; Previous (Apr): 1.8% m/m, 1.7% y/y
- Markets look for Spanish IP to resume contracting in May, following the first
rise in production in three months in Apr...
- ... which was driven by output expansions across all major sectors
- Fwd-looking indicators paint a deteriorating picture for Spanish industry
- While industrial new orders recovered some ground in Apr, survey evidence
suggests this rebound will be short-loved
- Indeed, Spain's manufacturing PMI showed that the sector slipped into
contraction territory in Jun...
- ... as tumbling new orders drove a sharp fall in reported manufacturing output
- Export orders are suffering amid a challenging global environment... 
- ... while protracted political uncertainty in Spain is weighing on domestic
demand

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