Latest Spanish industrial output figures released - 9 May 2018

  • Prior m/m +1.5%; revised to +1.4%
  • Industrial output y/y -3.6% vs +3.0% expected
  • Prior y/y +3.1%; revised to +2.8%

The seasonally adjusted y/y figure was at +5.1% though, beating estimate of +3.6%. So, that's a bit of a positive to come from the report.

But as mentioned before, this is a lagging data point and it's a Q1 reading - not going to change what has already been expected from the Eurozone's soft patch in Q1.