site.btaDownward Trend in Industrial Production Accelerates in November 2023, Y/Y - Statistics

The Industrial Production Index decreased by 3.2% in November 2023 compared to the previous month, show preliminary and seasonally adjusted data released by the National Statistical Institute on Tuesday. Compared to November 2022, the calendar-adjusted Industrial Production Index dropped by 10.9%, the downward trend in industrial production accelerating year on year.

In November 2023 compared to a month earlier, a decrease was registered in the mining and quarrying industry (5.6%), in manufacturing (2.7%), and in the electricity, gas, steam and air conditioning supply (1.8%). In manufacturing, a more significant drop was observed in the manufacture of chemicals and chemical products (16.6%), in the other manufacturing (16.1%), and in the manufacture of motor vehicles, trailers and semi-trailers (12.3%). An increase was reported in the manufacture of tobacco products (15.1%) and of textiles (9.1%).

Compared to November 2022, a decline was observed in the electricity, gas, steam and air conditioning supply (27.0%), in the mining and quarrying industry (12.3%), and in manufacturing (7.9%). In manufacturing, a more significant decrease was registered in the manufacture of other transport equipment (42.7%), in the manufacture of other non-metallic mineral products (22.3%), in the manufacture of furniture (22.0%), and in the
manufacture of textiles (21.4%). An increase was seen in the repair and installation of machinery and equipment (8.8%) and in the manufacture of basic metals (8.3%).