The INE report detailed that the Industrial Production Index registered a year-on-year contraction of 5.0% in August 2022. In commerce, there were falls in the wholesale and retail segments.
As he Trade Activity Index (IAC) and Industrial Production Index (IPI) decreased during Augustthus leaving signs of the economic slowdown.
The first, according to the National Institute of Statistics (INE), recorded an interannual decrease of 11,9% last month, influenced by the contraction in the three divisions that comprise it, thus accumulating a variation of 0.2% as of the eighth month of the year.
Retail tradeexcept for motor vehicles and motorcycles, was the one that had the greatest impact on the year-on-year variation of the IAC, posting a drop of 14,7% and impact -6.329 percentage points (pp.).
wholesale tradeexcept for motor vehicles and motorcycles, decreased 11.8% and subtracted 5,318 pp. to the index result. This was mainly due to the low wholesale of machinery, equipment and materials.
Meanwhile, the Supermarket Sales Index (ISUP) at constant prices fell 10.6% in twelve months. The seasonally adjusted series corrected for the calendar effect decreased 1.0% compared to the previous month and recorded a year-on-year contraction of 10.0%.
Industrial production
The INE report detailed that the Industrial Production Index recorded a year-on-year contraction of 5.0% in August 2022, “due to the negative incidences of the three sectors that comprise it”.
The Mining Production Index (IPMin) was the one that most influenced the result, presenting a decrease of 7.3% compared to the same month of the previous year and affecting -3.065 percentage points (pp.) in the IPI. This, mainly due to a lower activity registered in metallic mining, product of the decrease in the extraction and processing of copper.
It was followed in incidence by Manufacturing Production Index (IPMan), which fell 4.0% year-on-year, impacting -1,870 percentage points. in the variation of the IPI. The above was explained by low in the manufacture of chemicals and chemicals.
For his part, the Electricity, Gas and Water Production Index (IPEGA) decreased 0.9% in relation to August 2021 and had a -0.105 point impact. in the variation of the IPI. This, due to the decreases presented in the three activities that make up the index, especially in water.