The Mining Production Index (IPMin) grew by 2.2% in twelve months and fell by 0.3% compared to the previous month.

The National Institute of Statistics (INE) shared the figures of the Industrial Production Index (IPI) as of November 2024, where the year-on-year variation noted an increase of 1.1%.

Of the three sectors that comprise it, two achieved positive results.

However, the series with seasonal adjustment and corrected for the calendar effect (one less business day), the IPI had a monthly advance of 0.1% and 1.7% compared to November 2023.

INE Industrial Production Index

The Mining Production Index (IPMin) grew by 2.2% in twelve months and fell by 0.3% compared to the previous month.

The above is a consequence of “greater activity recorded in metal mining, with an increase of 3.1%, contributing 2,666 percentage points (pp.) to the variation of the index.”

"For its part, the Manufacturing Production Index (IPMan) showed an increase of 0.6%, explained by the 15.4% year-on-year increase in the manufacture of paper and paper products, which had an impact of 1.573 pp. on the variation of the general index," says the INE.

Finally, there is the Electricity, Gas and Water Production Index (IPEGA), which fell by 0.7% over twelve months. This is due to the fact that two of the three activities that comprise it (electricity and gas) had reductions, the first one standing out with -0.9%, affecting -0.687 pp. the general index.