MANUFACTURING INDUSTRY IN SPAIN: CURRENT SITUATION AND PROSPECTS FOR RECOVERY

The adverse evolution of Spain's manufacturing output since late last year, after having stabilized its drop of 2008-2009, raises serious doubts about their chances for recovery and growth in the near future. However, as we try to show in this paper, comparative analysis of production and, especially, industrial exports evolution with main developed countries, far from showing particular problems of competitiveness, reveals the existence of a strong industrial pattern that has resisted with some success the growing international competition. It gives reasons to hope about the role of industry as an economic recovery engine.