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Industrial production returns to positive territory after rising 0.9% in October

MADRID, 5 Dic.

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Industrial production returns to positive territory after rising 0.9% in October

MADRID, 5 Dic. (EUROPA PRESS) -

The General Industrial Production Index (IPI) rose 0.9% year-on-year last October, a rate 4.8 points higher than that of September, as reported this Tuesday by the National Institute of Statistics (INE).

With the rebound in October, industrial production returns to positive territory after having had four months of negative year-on-year rates.

The production of the energy industry was the only one that fell in the tenth month of the year, with a year-on-year decrease of 5.7%. Among the increases, the most pronounced was recorded in capital goods, with a year-on-year increase of 5.6%, followed by durable consumer goods (2%); non-durable consumer goods (1.8%) and intermediate goods (0.6%).

By branches of activity, those that cut their production the most in an interannual rate were other extractive industries (-18.5%) and graphic arts and extractive industries (-18.4% in both cases). The greatest increases, on the other hand, occurred in the manufacture of motor vehicles (13.1%) and the manufacture of other transport materials (10.7%).

Corrected for seasonal and calendar effects, industrial production fell 1.5% in October compared to the same month in 2022, a rate that increases the drop experienced in September by three tenths.

NINE COMMUNITIES RAISE THE PRODUCTION OF THEIR INDUSTRY

Industrial production fell in October in eight autonomous communities in an interannual rate and increased in nine, especially in Extremadura (17.7%), the Canary Islands (9.4%) and the Balearic Islands (6.4%).

At the other extreme, the greatest decreases were recorded in Cantabria (-11.8%), Valencian Community (-5%), La Rioja (-3.7%) and Andalusia and Navarra, both with a year-on-year decline of 2. 6%.

The most moderate falls in industrial production in October occurred in the Basque Country (-0.5%), Asturias (-1.1%) and Murcia (-1.8%).

INDUSTRIAL PRODUCTION FALLS BY 0.5% IN THE MONTH

In monthly terms (October over September) and within the corrected series, industrial production fell by 0.5% in the tenth month of the year, in contrast to the 1.1% rebound experienced in September.

By sectors, production only increased in October at a monthly rate in energy (0.4%) and decreased in capital goods (-1.8%); intermediate goods (-1.2%); durable consumer goods (-0.6%) and non-durable consumer goods (-0.1%).

By activities, the biggest increases in production compared to the previous month were in the manufacturing of clothing (32.3%); the leather and footwear industry (1.6%), and the manufacture of motor vehicles (1.4%).

In contrast, the most pronounced declines in production occurred in the extraction of anthracite, coal and lignite (-19.8%), other extractive industries (-12.1%) and graphic arts (-6.9%). .

Keywords:
INE