General Industrial Production Index (IPI) increased by 1.1% annually Last November, the rate was half a point higher than in October, the National Institute of Statistics (INE) reported on Thursday.
Industrial production chains with recovery in November 2023 annual advances for two consecutive months After four months of negative interest rates.
By sectors, equipment goods While they were the ones that increased their production the most, with an increase of 5.7% on an annual basis in November, this was followed by durable consumer goods (+2.9%) and energy (+1.6%).
On the other hand, production decreased in November non-durable consumer goods (-1.5%) and in intermediate goods it contracted by 1% compared to November 2022.
According to the branches of activity, the ones that made the biggest cuts in production between years were others. mining industry (-46.2%); extractive industries (-45.4%); graphic arts (-17.1%) and beverage manufacturing (-16.2%).
On the other hand, the biggest increases were motor vehicle manufacturing (+14.6%) and manufacturing of other transportation materials (+14%).
Season and calendar effects have been corrected, Industrial production increased by 0.8% last November compared to the same month in 2022; this rate was 2.2 points higher than in October.
Eleven communities increase production
Industrial production fell at an annual rate in six autonomous regions last November and increased in eleven regions in particular. Balearic Islands (+18.2%), Galicia (+7.3%) and Castilla y León (+6.5%).
At the other extreme, the largest annual declines in industrial production were recorded in 2017. Navarra (-7.4%), Cantabria (-5.8%) and Valencian Community (-4.1%).
Production increased by 1% monthly
On a monthly basis (November 2023 – October of the same year) and in the adjusted series, industrial production increased by 1%, This is in contrast to the 0.7% monthly decline experienced in October.
When looked at by sector, all recorded monthly increases, with capital goods leading the way (+2%). The most moderate increase was in energy It recorded a monthly increase of 0.1% in its production.