Spain: Industrial production picks up – ING


"Industrial production in November grew by 2.1% year-on-year, the highest since January 2019," ING analysts said assessing the latest Industrial Production data from Spain. 

Key quotes

"The activity stems mainly from capital goods (6.2% year-on-year) and non-durable consumer goods (1.5% year-on-year)."

"The PMI for the manufacturing sector remains under 50, coming in at 47.4 in December. Confidence remains low and is weighing on hiring and employment. On a positive note, the index did stabilise during the last two months after falling to a low of 46.8 in October."

"We expect GDP growth for the fourth quarter to come in at 0.4% quarter-on-quarter, as in the third quarter of 2019. The annual growth rate, in that case, would be equal to 2% compared to 2.4% in 2018. For 2020, we expect a weaker domestic labour market and weaker global environment to slow activity. We forecast 1.4% growth this year."

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD breaks through critical 0.8000 level, fresh three-year highs

AUD/USD rides the reflation wave higher. The aussie reaches the highest since February 2018. Surge in commodities complex underpins the AUD.

AUD/USD News

EUR/USD hits six-week high amid risk-on mood

EUR/USD has risen above 1.22, hitting the highest since mid-January. The US Fed's commitment to easing has boosted the market mood and the safe-haven dollar is down despite higher US yields. A big bulk of US data including GDP awaits traders.

EUR/USD News

Dogecoin on the verge of a 75% lift-off

Dogecoin price has been lull ever since the local top on February 7. However, a 20% surge due to Elon Musk’s recent endorsement has led to a breakout from a bull flag pattern. Now, the meme coin could surge 75% to record levels soon. 

Read more

Gamestop (GME) Stock Price and Forecast: Soars 273% as “diamond hands” trigger meme stock comeback

NYSE: GME is trading at around $168 in Thursday's premarket trade, up 273% from Wednesday's early trading price. The departure of the CFO served as the trigger to the fresh buying frenzy. Retail traders that have held onto shares seem to be behind the surge. 

Read more

US Dollar Index looks depressed near 90.00 ahead of data

The US Dollar Index (DXY), which tracks the greenback vs. a bundle of its main rivals, remains under heavy pressure around the key 90.00 neighbourhood in the second half of the week.

US Dollar Index News

Forex MAJORS

Cryptocurrencies

Signatures