Industrial production deepens its fall in July to 1.8% and adds two negative months

MADRID, 8 Sep. (EUROPA PRESS) -

The General Industrial Production Index (IPI) fell 1.8% year-on-year last July, a rate three tenths lower than that of June and its biggest decline since April, when it collapsed 4.2%, as reported by this Friday the National Institute of Statistics (INE).

With the fall in July, industrial production has had two months of negative year-on-year rates after the 1.5% decline recorded in June.

The production of the energy industry was the one that fell the most in the seventh month of the year, with a year-on-year decrease of 10.9%, followed by durable consumer goods (-7.4%) and intermediate goods (-2 ,3%). On the other hand, in July the production of capital goods increased (6% year-on-year) and non-durable consumer goods (0.7%).

By activity branches, those that cut their production the most in an interannual rate were clothing manufacturing (-36.9%); the leather and footwear industry (-14%) and the supply of electricity and gas (-12.7%).

Corrected for seasonal and calendar effects, industrial production also fell 1.8% in July compared to the same month in 2022, a rate 1.4 points higher than that of June.