Industrial production rose 3.6% annually in May as a result of mining and manufacturing

The National Institute of Statistics (INE) reported on Friday that the Industrial Production Index (IPI) rose 3.6% annually in May, due to the Increase in the three sectors that make it up, highlighting the mining production index (MPI) and the manufacturing production index (IPMan), which respectively reached 2,665 percentage points (pp.) And 0.822 pp. The Electricity, Gas and Water Production Index (IPEGA), meanwhile, contributed 0.125 pp.

Distribution revealed that IPMin showed an annual increase of 6.4% as a result of the increase in all three types of mines. Metal mining grew 5.8%, with an impact of 5.618 percentage points. in the change in the index, driven by the extraction and processing of copper (division 04), due to the increase of 7.3% year-over-year copper index. This product had a weak basis of comparison, explained by the drop in production at a major site in May 2017, and by climatic factors that reduced the production of some companies.

In turn, the IPMan rose 1.8% in twelve This rise is largely accounted for by the 36.3% year-over-year increase in machinery manufacturing and equipment (not yet rated), which had an impact of 0.983. in the variation of the general indicator. The latter, due to higher demand from the mining sector and a weak basis of comparison due to the testing period that new establishments in the sector had.

The IPEGA, on the other hand, recorded an annual increase of 1.1%, due to the progress made in two of the three activities that make it up. Water reported the highest positive impact (0.821 percentage point) on overall variation, with an expansion of 4.6%, explained by the increase in distribution to the residential destination , badociated with climatic factors and greater demand