Industrial production falls 0.8% in February

by time news

2023-06-08 18:16:47

He General Industrial Production Index (IPI) fell 0.8% year-on-year last February, a rate 2.2 points lower than that of January, as reported on Wednesday by the Statistics National Institute (INE).

With the advance in February, industrial production returns to negative interannual rates after showing a rise of 1.2% in the first month of the year.

The production of the industry equipment goods It was the one that rose the most in the second month of the year, registering an interannual rise of 5.5% in February, followed by the energy industry (+0.6%).

In contrast, production fell in February in intermediate goods (-5.9% year-to-year), in durable consumer goods (-1.7% year-to-year) and in non-durable consumer goods, where it decreased by 0.9 % in relation to the same month of 2022.

By branches of activity, the ones that increased their production the most in the interannual rate were the manufacture of motor vehicles, trailers and semi-trailers (+16.5%) and other extractive industries (+9.6%).

Among the decreases, the most pronounced were registered by the wood and cork industry (-28.5%); graphic arts and reproduction of recorded media (-12.7%) and the manufacture of other non-metallic mineral products (-10.7%).

Adjusted for seasonal and calendar effects, industrial production fell by 0.4% in February compared to the same month in 2022, a rate 0.2 points lower than that of January.

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