Industrial production recovers positive rates after growing 0.2% in May

MADRID, 5 Jul. (EUROPA PRESS) -

The General Industrial Production Index (IPI) grew by 0.2% year-on-year last May, a rate 4.4 points higher than that of April, as reported on Wednesday by the National Institute of Statistics (INE).

With the rise in May, industrial production returns to positive interannual rates after having registered a 4% drop in April.

The production of the energy industry was the one that fell the most in the fifth month of the year, with a year-on-year decrease of 5%. They are followed by durable consumer goods (-4.4%) and intermediate goods (-4.3%), while capital goods and non-durable consumer goods increased by 8.1% and 3.3 %, respectively.

By branches of activity, the ones that cut their production the most in the interannual rate were the wood and cork industry (-15.8%); the manufacture of other non-metallic mineral products (-13.2%) and coke ovens and petroleum refining (-10.7%).

Among the increases, the most pronounced were recorded by other extractive industries (34.9%); extractive industries (33.4%) and the manufacture of motor vehicles, trailers and semi-trailers (19.2%).

Adjusted for seasonal and calendar effects, industrial production fell 0.1% in May compared to the same month of the previous year, a rate 0.9 points higher than that of April.

In monthly terms (May over April), industrial production increased by 0.6%, a rate 2.5 points higher than that observed in the fourth month of the year, when it fell by 1.9%, its biggest monthly drop since March 2022.