The commercial industrial gas market generated revenues of approximately $1.2bn in 2015. This is up from $1.1bn in 2005, indicating an average annual growth rate of 0.8% p.a.
The Spanish economy was hit hard by a prolonged recession in the wake of the global financial crisis that began in 2008, with minimal growth in 2011. However, GDP growth rates in the last two years look promising, with growth rates of 1.3 % and 1.7% in 2014 and 2015 respectively.
Industrial production (as measured by IPI) has experienced a number of periods of decline over the course of the last decade. The most notable period of decline was experienced during the 2008-09 financial crisis, where industrial production declined -7.3% and -15.8% in 2008 and 2009 respectively. The IPI rate also declined in 2011 and 2012 but has begun to recover, with a rate of 2% in 2015.
Inflation rates have varied over the last decade but has remained virtually flat of the course of the last 2 years.
Report Data: 2015
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