In November 2024, the General Industrial Turnover Index (ICN) showed a year-on-year decrease of -2.0% in the original series and -0.4% in the calendar- and seasonally-adjusted series.
On a monthly basis, the index increased by 0.9% compared to October, after adjusting for calendar and seasonal effects, marking a 2.1-point improvement from the previous month.
Across markets, all geographical destinations recorded negative annual rates, with the eurozone foreign market experiencing the steepest decline at -5.9%.
By economic destination, Energy (12.8%) and Capital Goods (1.5%) posted positive monthly rates, while Durable Consumer Goods (-0.9%), Non-Durable Consumer Goods (-0.7%), and Intermediate Goods (-0.4%) showed decreases.
Regionally, seven autonomous communities recorded increases in turnover, led by Illes Balears (17.8%) and Principado de Asturias (16.9%). Conversely, the sharpest declines were seen in Comunidad Foral de Navarra (-9.2%) and Comunitat Valenciana (-8.9%).
This scenario reflects an annual contraction in industrial activity, although there are slight signs of short-term recovery.
source: INE