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Dramatic fall in Industrial Production Index

Dramatic fall in Industrial Production in the Balearics. | Josep Bagur Gomila

Majorca Daily Bulletin reporterBalearic Islands06/07/2020 10:18

The Balearic Industrial Production Index fell by 35.8% in May compared to the national average of 27.8% and according to data from the National Statistics Institute, or INE, it’s the biggest fall in production in Spain with a year-on-year decrease of 27.8%.

The Islands also registered the biggest decline in the accumulated index for the year at 22.5% and is the region with the lowest index in absolute values at 20 points below the national average.

The INE says that after virtual paralysis in April, the Industry has started to recover it’s rhythm and that the rise in May contrasts sharply with the monthly falls of 22.1% in April and 13.6% in March.

In May, production was highest in the durable Consumer Goods and Capital Goods Industries, which suffered the most during April.

With seasonal adjustments, the Industrial Production Index in Spain, rose 14.7% in May compared to April, after two months of strong monthly decreases.

Vehicle Manufacturing was up 362.9%, the Leather & Footwear Industry increased by 159.7% and Furniture Manufacturing by 96.6% in May in relation to the previous month.