Home In Spain Spanish economy
The General Industrial Production Index (IPI) fell by an average of 0. 8% in 2023, putting an end to the series of positive rates of the last two years, as reported on Wednesday through the National Institute of Statistics (INE). The 0. 8% decrease recorded in 2023 contrasts with the 2. 4% accumulated in 2022 and 7. 1% in 2021. The latter was a year back to normal following the end of pandemic restrictions.
With the exception of 2020, when industrial production plummeted by 9.2% due to the outbreak of Covid, this indicator has not fallen since 2013, when it fell by an annual average of 1.7%.