Industrial production deepens its fall in August to 3.6% and has had three negative months

MADRID, 5 Oct. (EUROPA PRESS) -

The General Industrial Production Index (IPI) fell 3.6% year-on-year last August, a rate 1.5 points lower than that of July and its biggest decline since April, when it collapsed 4.2%, according to The National Institute of Statistics (INE) reported this Thursday.

With the fall in August, industrial production has had three months of negative interannual rates after the declines of 1.7% and 2.1% recorded in June and July, respectively.

The production of non-durable consumer goods was the one that fell the most in the eighth month of the year, with a year-on-year decrease of 9.8%, followed by the energy industry (-6.2%); intermediate goods (-4.6%); capital goods (-2.4%) and non-durable consumer goods (-0.4%).

By activity branches, those that cut their production the most in an interannual rate were clothing manufacturing (-24.1%); the wood and cork industry (-17.4%) and the leather and footwear industry (-15.7%). The greatest increases, on the other hand, occurred in the manufacture of pharmaceutical products (25.1%) and in the manufacture of other transport materials (20.2%).

Corrected for seasonal and calendar effects, industrial production fell 3.4% in August compared to the same month in 2022, a rate 1.2 points lower than that of July.

ONLY THE CANARY ISLANDS AND MADRID RAISE THE PRODUCTION OF THEIR INDUSTRY

Industrial production fell in August in 15 autonomous communities in an interannual rate and only in the Canary Islands and Madrid, with advances of 4.5% and 1%, respectively.

The largest declines were recorded in Navarra (-15.9%), Asturias (-13.6%), Murcia (-11.1%) and La Rioja (-10.9%), the only regions with double-digit declines. .

The most moderate falls in industrial production in August occurred in Catalonia (-0.1%), Castilla-La Mancha (-1.4%) and Aragon (-2%).

INDUSTRIAL PRODUCTION DECLINES BY 0.8% IN THE MONTH

In monthly terms (August over July) and within the corrected series, industrial production fell by 0.8% in the eighth month of the year, in contrast to the monthly advance of 0.1% experienced in July and the increase of 0. .5% recorded in August 2022.

By sectors, production only increased in August at a monthly rate in energy (1.9%) and decreased in the rest. The biggest drop was seen in durable consumer goods (-3%), followed by capital goods (-2.1%), intermediate goods (-1.8%) and non-durable consumer goods (- 0.8%).

By activities, the biggest increases in production compared to the previous month were in clothing manufacturing (26.6%); the manufacturing of computer, electronic and optical products (7.6%), and coke plants and oil refining (3.9%).

On the contrary, the most pronounced declines in production occurred in the tobacco industry (-23.8%), the graphic arts (-19.5%) and the manufacturing of pharmaceutical products (-13.3%).