The item “Manufacturing of Paper and Paper Products” was the one that had the greatest impact on the improvement in the level of activity.
The Industrial production advanced 0.4% year-on-year in June, according to the Physical Volume Index ofthe manufacturing industry that elaborates the National Statistics Institute (INE), driven by the start of the activity in PSU 2
The report highlighted the item “Manufacturing of Paper and Paper Products” as the one with the greatest positive impact on the industrial product, with an interannual variation of 31.8% and an incidence of 3.2%, coinciding with the commissioning of the second pulp mill in UPM, which has already begun to boost activity, to the point that it has sold 72,000 tons.
In order of positive incidence, it was followed by the division “Elaboration of Food Products”, with an improvement of 3.4%, while those with the greatest negative incidence were “Manufacturing of Motor Vehicles”, with a decline of 26.2%, followed by the “Beverage Manufacture”, with a drop of 18.2%.
Industrial employment: fewer hours worked, but more staff employed
In what has to do with the industrial Employment,the Index of Hours Worked by workers (IHT) prepared by the INE registered a decrease of 1.8% year-on-year. In this regard, the division that had the greatest weight in the decrease in hours worked was “Food Products Manufacturing”, with a decrease of 4.6%.
In parallel, the Employed Persons Index (IPO) showed an interannual increase of 0.9% in July, mainly motivated by the heading “Manufacturing of Motor Vehicles”, which grew 14.9% and pushed upwards.
In these aspects it was also possible to notice the impulse of PSU 2, since the “Paper and paper products” division went the other way in terms of hours worked, with an increase of 22.5%. The increase in employed personnel was also notorious, reaching 16.1%.
Source: Ambito
