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Industrial production returns to negative rates after falling 4% in April, its biggest drop in two years

MADRID, 6 Jun.

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Industrial production returns to negative rates after falling 4% in April, its biggest drop in two years

MADRID, 6 Jun. (EUROPA PRESS) -

The General Industrial Production Index (IPI) fell 4% year-on-year last April, a rate 9.4 points lower than that of March and its biggest decline since January 2021, as reported on Tuesday by the National Institute of Statistics ( INE).

With the fall in April, industrial production returns to negative interannual rates after having registered an increase of 5.4% in March.

The production of the durable consumer goods industry was the one that fell the most in the fourth month of the year, with an interannual decrease of 9.9%. They are followed by intermediate goods (-6.5%); non-durable consumer goods (-4.6%); energy (-2.1%), and capital goods (-0.6%).

By branches of activity, those that cut their production the most in the interannual rate were the wood and cork industry (-23.9%); the leather and footwear industry (-18.2%); clothing manufacturing (-13.7%) and the paper industry (-13.4%).

Among the increases, the most pronounced were recorded by other extractive industries (41.8%); extractive industries (39.4%) and the manufacture of other transport material (17%).

Adjusted for seasonal and calendar effects, industrial production fell by 0.9% in April compared to the same month in 2022, a rate 5 points lower than that of March.

ONLY TWO COMMUNITIES RAISE THE PRODUCTION OF THEIR INDUSTRY

Industrial production fell in April in the interannual rate in fourteen autonomous communities, remained unchanged in the Valencian Community and only rose in the Canary Islands (2.4%) and Galicia (0.1%).

The greatest decreases were registered in La Rioja (-11.5%), Aragón (-9.2%), Extremadura (-8.6%), Murcia (-7.5%) and Asturias, where the production of the sector industry fell by 7.4% compared to April 2022.

INDUSTRIAL PRODUCTION PLUMS 1.8% IN THE MONTH

In monthly terms (April over March) and within the corrected series, industrial production fell by 1.8%, its biggest monthly drop since March 2022, when it fell by 2.7%.

By branches of activity, the largest monthly decreases in production in the corrected series corresponded to the tobacco industry and other extractive industries (-8.1% in both cases) and furniture manufacturing (-5.7%).

In contrast, the largest monthly increases in production were experienced by the manufacture of other transport material (4.6%); the leather and footwear industry (3.6%), and the coke ovens and oil refining (2.1%).

Keywords:
INE