- The shortage of supplies pulls down industrial production after seven months of growth
The General Industrial Production Index (IPI) increased by 5.6% last November in relation to the same month of 2020, rate 8.8 points higher than that of October, as reported on Tuesday by the National Statistics Institute (INE). With the inter-annual rebound in November, the most pronounced since last June, industrial production returned to positive rates after in October it will register its first decline after seven consecutive months of positive rates.
By sectors, the greatest advances in production were recorded by the Non-durable consumer goods (+ 13.8%) and energy (+ 10.9%), followed by durable consumer goods (+ 9.1%) and intermediate goods (+ 1%). Only capital goods cut their production in November (-0.5%).
Adjusted for seasonal and calendar effects, industrial production recorded a year-on-year increase of 4.8% last November, a rate 5.5 points higher than the previous month.
In monthly terms (November 2021 over October of the same year), and within the corrected series, industrial production shot up 4.5%, its highest rise since July 2020 , thanks, above all, to the advances in the production of non-durable consumer goods (+ 7.8%), energy (4.8%) and capital goods (+3.6%).
By activity branches, the monthly advances in production in the manufacture of pharmaceutical products (+ 21.7%) and in the supply of electricity, gas, steam and air conditioning (+ 7.2%).
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