Press Release: Industrial Production Index (IPI). March 2024. Provisional data.

Main results

The annual rate of the Industrial Production Index was -1.2% in the series adjusted for seasonal and calendar effects and -11.3% in the original series.
The monthly variation of the Industrial Production Index was -0.7%, if seasonal and calendar effects are eliminated.

More information

Annex of tables (includes information on AC and original and sector-adjusted series)
Detailed results

The Industrial Production Index, adjusted for seasonal and calendar effects, recorded a variation rate of -1.2% in March, as compared with the same month of the previous year. This rate was 2.5 points lower than that registered in February.

The original IPI series experienced an annual variation of -11.3%. This rate was 15.6 points lower than that of February.

General Industrial Production Index. March 2024

Annual rate. Percentage

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    [
      "0.0",
      "0.1",
      "7.4",
      "6.6",
      "1.6",
      "5.6",
      "4.1",
      "2.2",
      "-0.7",
      "-3.7",
      "1.2",
      "-0.3",
      "5.2",
      "-5.1",
      "-0.8",
      "-2.2",
      "-2.5",
      "-4.6",
      "-4.8",
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      "0.3",
      "-4.7",
      "3.9",
      "4.3",
      "-11.3"
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      "3.1",
      "3.4",
      "5.1",
      "4.6",
      "3.5",
      "3.6",
      "2.4",
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      "-0.1",
      "-0.3",
      "-1.1",
      "3.2",
      "-1.9",
      "-2.5",
      "-2.2",
      "-2.1",
      "-2.4",
      "-2.2",
      "-1.4",
      "0.0",
      "-0.8",
      "0.0",
      "1.3",
      "-1.2"
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By sectors, and in indexes adjusted for seasonal and calendar effects, Non-durable consumer goods (3.7%) presented the highest annual rate. In contrast, Durable consumer goods (-4.2%) recorded the lowest rate.

Annual rates of the industrial production index: General and by economic use of the goods. March 2024

Monthly evolution of industrial production

After eliminating the seasonal and calendar effects, the monthly variation of the Industrial Production Index (IPI) between March and February stood at -0.7%. This rate was 1.4 points lower than that registered in February.

General Industrial Production Index. March 2024

Adjusted for seasonal and calendar effects. Monthly rate. Percentage

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    "aug-23",
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      "-2.4",
      "3.3",
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      "-0.2",
      "-0.1",
      "0.2",
      "-0.6",
      "-1.0",
      "0.4",
      "-0.3",
      "-0.6",
      "1.8",
      "-1.7",
      "-0.4",
      "0.3",
      "-0.1",
      "-0.4",
      "0.4",
      "0.2",
      "0.4",
      "-0.4",
      "0.5",
      "0.7",
      "-0.7"
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By sectors, Non-Durable consumer goods (-0.1%) presented the most positive monthly rate. In contrast, Energy (-1,6%) was the lowest rate.

Results by Autonomous Communities. Annual variation rates of industrial production. Original series

In all the autonomous communities, the annual rate of industrial production decreased as compared to March 2023.

General index: national and by Autonomous Communities. March 2024

Annual rate. Percentage

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      "-18.6",
      "-18.0",
      "-17.5",
      "-16.9",
      "-15.9",
      "-14.8",
      "-14.6",
      "-13.6",
      "-13.1",
      "-13.1",
      "-12.7",
      "-12.3",
      "-11.3",
      "-10.1",
      "-7.0",
      "-4.8",
      "-4.5",
      "-1.1"
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Reviews and data updates

INE has today updated the IPI data for the last two months. In the case of the series adjusted, the series have been reviewed from the beginning, following the INE standard. All results of this operation are available on INEBase.

Methodological note

The Industrial Production Index (IPI) is a short-term indicator that measures the monthly evolution of the productive activity of the industrial branches, excluding construction, contained in the National Classification of Economic Activities 2009 (CNAE-2009). It therefore investigates the activities included in sections B, C, D and division 36: Water collection, treatment and supply, from section E of the CNAE-2009.

The IPI measures the joint evolution of quantity and quality, eliminating the influence of prices.

Type of survey:: monthly continuous survey.
Base year:: 2021.
Population scope:: industrial establishments whose main activity is included in sections B, C, D and division 36 of the CNAE-2009.
Geographical scope:: the entire national territory.
Sample size:: 11,500 industrial establishments and more than 1,100 products.
Collection method:: internet (IRIA system), e-mail, fax, telephone or postal mail.

More information is available in the methodology and in the standardised methodological report.

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information in Quality at INE and the Code of Best Practices.