May 13, 2021

Industrial production falls 2.8% in November pushed by Energy and intermediate goods

Industrial production falls 2.8% in November pushed by Energy and intermediate goods


MadridUpdated:

Industrial production has registered an interannual decrease of 2.8% in Novemberdo, after having achieved an increase of 3.6% in October, according to data published this Friday by the National Institute of Statistics (INE).

The year-on-year decline in the industrial production index (IPI) in November has taken place in all sectors, with energy (5.6%) and intermediate goods (3.0%) at the top, to accumulate two of the last three months in negative. This index measures the evolution of the productive activity of the industrial branches of the Spanish economy, excluding construction, in terms of quantity and quality and eliminating the influence of prices.

Once the seasonal and calendar effects have been eliminated, industrial production has accumulated a decrease of 2.6%, compared to the year-on-year increase of 0.7% experienced the previous month. Between January and November 2017, this indicator has accumulated an average progress of 1.2% in any case.

Only lastThat last month fell 1.5% once the seasonal and calendar effects have been corrected, while the previous month advanced 1.1%.

Also in inter-monthly terms all sectors presented negative monthly rates, led by capital goods (1.8%), as well as intermediate goods and durable consumer goods (1.7% in both cases).

During the last twelve months, the annual rate of industrial production has been positive in only four autonomous communities: Valencia (3.9%), Madrid (3.6%), Castilla-La Mancha (2.9%) and Galicia (0.9%). On the other hand, up to four communities accumulated declines higher than two digits: Extremadura (19.4%), Murcia (11.2%), Baleares (10.7%) and La Rioja (10.2%).

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