7 February 2024

Industrial Production Index (IPI)

December 2023. Provisional data

Main results

The annual rate of the Industrial Production Index was -0.2% in the series adjusted for seasonal and calendar effects and -4.0% in the original series.
The monthly variation of the Industrial Production Index was -0.3%, if seasonal and calendar effects are eliminated.
In the course of the year, industrial production decreased by -0.8%.

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 -0.2% in December, as compared to the same month of the previous year. This rate is 1.1 points lower than that registered in November.

The original IPI series experienced an annual variation of -4.0%. This rate is 5.0 points lower than that of November.

General Industrial Production Index. December 2023

Annual rate. Percentage

{
    "mode": "chart",
    "type": "lineasprensa",
    "width": "170mm",
    "height": "100mm",
    "legend": true,
    "valueAxis": true,
    "tags": false,
    "series": [
        {
            "label": "Original"
        },
        {
            "label": "Seasonally adjusted"
        }
    ],
    "ticks": [
        "Dec-21",
        "Jan-22",
        "Feb-22",
        "Mar-22",
        "Apr-22",
        "May-22",
        "Jun-22",
        "Jul-22",
        "Aug-22",
        "Sep-22",
        "Oct-22",
        "Nov-22",
        "Dec-22",
        "Jan-23",
        "Feb-23",
        "Mar-23",
        "Apr-23",
        "May-23",
        "Jun-23",
        "Jul-23",
        "Aug-23",
        "Sep-23",
        "Oct-23",
        "Nov-23",
        "Dec-23"
    ],
    "values": [
        [
            "3.1",
            "4.3",
            "4.2",
            "0.3",
            "-0.7",
            "6.9",
            "6.6",
            "1.3",
            "5.4",
            "3.6",
            "2.4",
            "-1.4",
            "-3.2",
            "1.4",
            "-0.5",
            "5.4",
            "-4.2",
            "0.0",
            "-1.7",
            "-2.0",
            "-3.6",
            "-3.3",
            "0.7",
            "1.0",
            "-4.0"
        ],
        [
            "1.9",
            "2.0",
            "2.9",
            "-0.5",
            "2.1",
            "4.3",
            "7.1",
            "5.5",
            "5.4",
            "3.4",
            "2.6",
            "-0.8",
            "0.3",
            "0.0",
            "-0.1",
            "4.1",
            "-1.3",
            "-0.6",
            "-3.5",
            "-1.9",
            "-3.2",
            "-0.6",
            "-1.4",
            "0.9",
            "-0.2"
        ]
    ],
    "ratioMargen": 0.05,
    "angleTick": "-90",
    "angleTag": "0",
    "colors": [
        "#457E76",
        "#A45C0A",
        "#0071AD",
        "#756F0F",
        "#C33C9D",
        "#677746"
    ],
    "config": {}
}

By sectors, and in indexes adjusted for seasonal and calendar effects, Energy (1.9%) presented the highest annual rate. Meanwhile, Durable consumer goods (-6.0%) recorded the lowest rate.

Annual rates of the industrial production index: General and by economic destination of the goods. December 2023

{
    "mode": "table",
    "category": [
        "Original index",
        "Seasonally adjusted index",
        "Annual rate (%)",
        "General Index",
        "Consumer goods",
        "Total",
        "Durable consumer goods",
        "Non-durable consumer goods",
        "Capital goods",
        "Intermediate goods",
        "Energy"
    ],
    "col": [
        [
            "0",
            "2"
        ],
        [
            "1",
            "2"
        ]
    ],
    "row": [
        [
            "3",
            ""
        ],
        [
            "4",
            "5"
        ],
        [
            "",
            "6"
        ],
        [
            "",
            "7"
        ],
        [
            "8",
            ""
        ],
        [
            "9",
            ""
        ],
        [
            "10",
            ""
        ]
    ],
    "data": [
        "-4,0",
        "-0,2",
        "-7,9",
        "-3,6",
        "-10,9",
        "-6,0",
        "-7,6",
        "-2,1",
        "-4,6",
        "0,2",
        "-3,5",
        "0,1",
        "1,0",
        "1,9"
    ],
    "title": "",
    "leftSideCols": 2,
    "rowsHeader": 2
}

Monthly evolution of industrial production

The monthly variation of the Industrial Production Index (IPI) between the months of December and November, eliminating seasonal and calendar effects, was -0.3%. This rate is 1.4 points lower than that registered in November.

General Industrial Production Index. December 2023

Adjusted for seasonal and calendar effects. Monthly rate. Percentage

{
    "mode": "chart",
    "type": "barrasprensa",
    "width": "170mm",
    "height": "100mm",
    "legend": false,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "Monthly rate (%)"
        }
    ],
    "ticks": [
        "Dec-21",
        "Jan-22",
        "Feb-22",
        "Mar-22",
        "Apr-22",
        "May-22",
        "Jun-22",
        "Jul-22",
        "Aug-22",
        "Sep-22",
        "Oct-22",
        "Nov-22",
        "Dec-22",
        "Jan-23",
        "Feb-23",
        "Mar-23",
        "Apr-23",
        "May-23",
        "Jun-23",
        "Jul-23",
        "Aug-23",
        "Sep-23",
        "oct-23",
        "nov-23",
        "Dec-23"
    ],
    "values": [
        [
            "-0.3",
            "-0.1",
            "0.7",
            "-2.7",
            "3.2",
            "-0.2",
            "1.7",
            "-1.3",
            "0.6",
            "-1.1",
            "0.1",
            "-1.2",
            "0.8",
            "-0.4",
            "0.5",
            "1.4",
            "-2.1",
            "0.5",
            "-1.3",
            "0.3",
            "-0.7",
            "1.5",
            "-0.7",
            "1.1",
            "-0.3"
        ]
    ],
    "ratioMargen": 0.15,
    "angleTick": "-90",
    "angleTag": "0",
    "colors": [
        "#457E76",
        "#A45C0A",
        "#0071AD",
        "#756F0F",
        "#C33C9D",
        "#677746"
    ],
    "config": {
        "marcaTick": {
            "color": "#9e1834",
            "value": "Dec-23"
        }
    }
}

By sectors, Energy (3.1%) presented the most positive monthly rate. Meanwhile, Durable consumer goods (-2.2%) recorded the lowest rate.

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

The annual rate of industrial production increased as compared to December 2022 in six Autonomous Communities and decreased in the other 11.

General index: national and by Autonomous Communities. December 2023

Annual rate. Percentage

{
    "mode": "chart",
    "type": "barrashorizontalesprensa",
    "width": "170mm",
    "height": "130mm",
    "legend": false,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "Annual rate"
        }
    ],
    "ticks": [
        "Cantabria",
        "Navarra, Comunidad Foral de",
        "Andalucía",
        "Comunitat Valenciana",
        "Cataluña",
        "NATIONAL",
        "Madrid, Comunidad de",
        "Castilla - La Mancha",
        "Castilla y León",
        "Asturias, Principado de",
        "Galicia",
        "Murcia, Región de",
        "País Vasco",
        "Balears, Illes",
        "Canarias",
        "Rioja, La",
        "Aragón",
        "Extremadura"
    ],
    "values": [
        [
            "-10.5",
            "-9.4",
            "-7.7",
            "-7.0",
            "-6.1",
            "-4.0",
            "-3.9",
            "-3.1",
            "-2.5",
            "-1.6",
            "-1.5",
            "-0.9",
            "0.6",
            "2.3",
            "2.4",
            "3.1",
            "3.5",
            "5.6"
        ]
    ],
    "ratioMargen": 0.15,
    "angleTick": "0",
    "angleTag": "0",
    "colors": [
        "#457E76",
        "#A45C0A",
        "#0071AD",
        "#756F0F",
        "#C33C9D",
        "#677746"
    ],
    "config": {
        "marcaTick": {
            "color": "#9e1834",
            "value": "NATIONAL"
        }
    }
}

Annual average of industrial production in 2023. Original series

The annual average of the Industrial Production Index (IPI) in 2023 for the entire country decreased by -0.8% compared to the previous year.

By communities. Canarias resgistered the largest increase in annual average (5.6%) and Murcia the most negative rate ( -8.0%).

General index: national and by Autonomous Communities. Year 2023

Annual average 2023. Variation rate. Percentage

{
    "mode": "chart",
    "type": "barrashorizontalesprensa",
    "width": "170mm",
    "height": "130mm",
    "legend": false,
    "valueAxis": false,
    "tags": true,
    "series": [
        {
            "label": "Average annual rate(%)"
        }
    ],
    "ticks": [
        "Murcia, Región de",
        "Cantabria",
        "Asturias, Principado de",
        "Andalucía",
        "Rioja, La",
        "Comunitat Valenciana",
        "Navarra, Comunidad Foral de",
        "País Vasco",
        "Balears, Illes",
        "NATIONAL",
        "Cataluña",
        "Aragón",
        "Galicia",
        "Castilla-La Mancha",
        "Extremadura",
        "Madrid, Comunidad de",
        "Castilla y León",
        "Canarias"
    ],
    "values": [
        [
            "-8.0",
            "-5.9",
            "-4.2",
            "-4.0",
            "-3.9",
            "-3.7",
            "-3.6",
            "-2.1",
            "-1.1",
            "-0.8",
            "-0.5",
            "1.6",
            "1.9",
            "2.0",
            "2.0",
            "2.9",
            "3.2",
            "5.6"
        ]
    ],
    "ratioMargen": 0.15,
    "angleTick": "-90",
    "angleTag": "0",
    "colors": [
        "#457E76",
        "#A45C0A",
        "#0071AD",
        "#756F0F",
        "#C33C9D",
        "#677746"
    ],
    "config": {
        "marcaTick": {
            "color": "#9e1834",
            "value": "NATIONAL"
        }
    }
}

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.

Base change

The INE published the latest data on the Industrial Production Index based on 2015 today. The new 2021 base will incorporate relevant changes, among which the updating of weights and the sample stand out.

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: 2015.

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 on the methodology and the standardised methodological report.

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

For further information see

Official INE account on @es_ine

All press releases at:: www.ine.es/en/prensa/prensa_en.htm
Press office:: (+34) 91 583 93 63 / 94 08 – gprensa@ine.es
Information area:: (+34) 91 583 91 00 – www.ine.es/infoine/?L=1