Wednesday, January 26

Industrial production soars 50.3% in April, its biggest rise since 1975



The General Industrial Production Index (IPI) shot up 50.3% in April compared to the same month in 2020, thus registering your highest increase in the entire historical series, which began in 1975, as reported this Monday by the National Institute of Statistics (INE).

With the year-on-year advance in April, industrial production chains two consecutive months of positive rates after having recorded its biggest rise in 24 years in March (+ 15.4%). However, it must be taken into account that the comparison is made with the data for April 2020, when, due to the first state of alarm, all non-essential activity was paralyzed for two weeks.

However, it must be taken into account that the comparison is made with the data for April 2020, when, due to the first state of alarm, all non-essential activity was paralyzed for two weeks.

All sectors registered annual increases in production in April this year. The Durable consumer goods made the most progress, with an interannual increase of 229.7%, followed by capital goods (+ 120.4%); intermediate goods (+ 61.3%); non-durable consumer goods (+ 27.1%), and energy (+ 13.7%). The activities that increased their production the most in April in the interannual rate were the manufacture of motor vehicles (+ 929.3%); the manufacture of clothing (+ 321.4%) and the manufacture of furniture (+ 259.9%).

The activities that increased their production the most in April in the interannual rate were the manufacture of motor vehicles (+ 929.3%); the manufacture of clothing (+ 321.4%) and the manufacture of furniture (+ 259.9%).

Adjusted for seasonal and calendar effects, industrial production registered a record year-on-year rise of 48.2% in April, a rate 35.3 points higher than the previous month.

Monthly increase of 1.2%

In monthly terms (April over March), and within the corrected series, industrial production rose 1.2%, its highest monthly increase since last July, when it increased 5.2%.

Three sectors registered positive monthly rates in April, especially non-durable consumer goods (+ 5.3%), followed by durable consumer goods and intermediate goods, both with increases of 1.3%. In addition, production rose compared to March in capital goods (+ 0.9%) and remained unchanged in energy (+ 0.8%).

By branches of activity, the most pronounced monthly increases in production were in the tobacco industry (+ 14.6%), the manufacture of motor vehicles (+ 11.1%) and the manufacture of other transport material ( + 8.2%).

At the other extreme, the greatest monthly declines were for clothing manufacturing (-7.5%), other manufacturing industries (-6.2%) and graphic arts (-6%).

Industrial production rose in April in all the autonomous communities in the interannual rate.

The steepest increases were recorded by Navarra (+ 79.3%), Galicia (+ 76.4%), the Basque Country (+ 61.9%), Asturias (+ 60.6%) and the Valencian Community (+59, 9%).

The lowest increases occurred in Murcia (+ 20.5%), Extremadura (+ 20.6%), the Canary Islands (+ 21.9%), Andalusia (+ 30.7%) and the Balearic Islands (+ 33%).


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