Sunday , April 11 2021

The industry declined almost 5% in October, according to Ferreres

Industrial production declined 4.8% in October compared to the same period of 2017, in compiling seven months of fall, according to a report by the Orlando Ferreres Center for Economic Studies.

Between January and October, the manufacturing activity collected a recovery of 3.5% compared to the same period of 2017 and compared to the previous September, the adjusted measurement showed 1.4% termly, the consultancy said.

"While viewing the seasonally modified data it appears that the most restored phase of the circle has been left behind, the situation does not allow us to be we are optimistic in the short term, and we will have to wait until the end of 2019 to see a more specific recovery of a more active agricultural sector and a more stable macroeconomic forecast ", state the company.

In the tenth month of 2018, The dynamics were influenced by what happened in the food segment, where the decline in the production of soft oils and beverages (both headings with the highest weight), which enrolled decreased by 5.7% and 12.3% respectively.

Similarly, the 7.9% Fatal in the Non-Metals Minerals sector, due to the lower cement loads.

However, the study shows that the largest industry drag was the "most automotive industry" in October, which was contracted by 11.8% year on year, contributing almost 2 percentage points to the index general ".

The food, beverages and tobacco sector registered a 2.4% reduction year on year for October, reducing its compression, having registered a 5.8% reduction last month, and negative variations above 8% in the previous four months .

There was a limit of 15.9% per annum in the machinery and equipment sector, with collapses in all divisions having been analyzed, although slightly lower than in September.
"For the poor results shown by the agricultural machinery and equipment industry, the automotive sector joins, declining for the second consecutive month, this time to 11.8% year on year," said & # 39; the study.

The basic metals item was the only one that showed positive numbers for this month, indicating an expansion of 15.1% annually.

"This entry is partly explained because plant sewage has been done for running rolling lines for October last year," he said.

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