The Physical Volume Index of the Manufacturing Industry fell in the first part of the year, despite experiencing a variation of 6.1% in April.
The volume of the Industrial production It fell 2.8% in the first four months of the year, when compared to the January-April 2023 period, and despite experiencing a variation of 6.1% in interannual terms in April compared to the same month last year.
The data was announced this Wednesday in the latest technical bulletin of the Physical Volume Index of the Manufacturing Industry (IVFIM) prepared by the National Institute of Statistics (INE) for the month of April.
In turn, the accumulated variation in the last 12 months of the year was negative, at 0.5%. On the other hand, the IVFIM index number was established at 102.8.
The Index of Hours Worked by workers (IHT) recorded an interannual variation of 12.2%, an average annual variation of 2.6% and an accumulated average variation in the last 12 months of 1.2%, while the Employed Personnel Index (IPO) remained practically unchanged.
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Main factors on the variation of the quarterly average
The division with the greatest negative impact to explain the drop in the first quarter was “Oil refinery” from the stop of the La Teja refinery by Ancapwhich represented an almost total collapse, of 96.5%, impacting 6.5 percentage points (pp) on the accumulated value of the period.
Another factor that negatively influenced the quarterly average was the division of “Beverage Preparation”, with a contraction of 11.6% and a negative impact of 0.7 pp “Repair and Installation of the Machinery and equipment”, For its part, it represented a negative variation of 28.6%, although a negative impact of only 0.6 pp
At the other extreme, the section “Paper Manufacturing and Paper Products” had a jump of 35.7% and contributed 3.8 pp to the average for the period.
Source: Ambito
