Industrial production moderates its growth to 1.3% in July, with energy soaring

MADRID, 9 Sep. (EUROPA PRESS) -

The General Industrial Production Index (IPI) rose 1.3% in July compared to the same month of 2021, a rate 5.3 points lower than that of the previous month, as reported this Friday by the National Institute of Statistics (INE) .

With the data for July, industrial production has chained three consecutive months of positive rates.

The production of the energy industry was the one that grew the most in July, registering a year-on-year rise of 13.2%. They are followed by capital goods (1.6%) and durable consumer goods, with an increase of 1%. By contrast, the production of intermediate goods fell by 5% year-on-year in July and that of non-durable consumer goods contracted by 0.7%.

By branches of activity, the ones that increased their production the most in the interannual rate were the supply of energy, gas, steam and air conditioning (18%) and the leather and footwear industry (13.2%). Among the decreases, the most pronounced were registered in other extractive industries (-31.5%) and in metallurgy (-13.1%).

Adjusted for seasonal and calendar effects, industrial production rose 5.3% compared to July 2021, a rate 1.7 points lower than that of June.

In monthly terms (July over June) and within the corrected series, industrial production fell by 1.1%, its biggest monthly decline since last March, when it fell by 2%.