Wednesday, October 5

The industry showed a slight rebound in November, according to Ferreres

The year-on-year increase came from the hand of the automotive sector, which posted an annual expansion of 42.7%, reaching the highest level of production since mid-2018.

Among the lagging sectors, the food sector stands out, which had contractions both in the slaughter section and in the milling of cereals.

“In a broader view, the local industry still has room to expand if the macro imbalances begin to be corrected, and a stable framework that coordinates expectations is recovered,” the report said.

Even if this does not happen in the short term, “there is room for a certain degree of rebound, so for next year we anticipate a slight advance, conditional on not worsening the social and economic context,” he added.

Food, Beverages and Tobacco

This sector registered an annual advance of 2.0% in November, thanks to the impulse of the beverage sector, while the sectors with the most weight, beef slaughter and the production of oils, recorded falls of 9.4% and 2.2 % respectively. In the accumulated for the eleven months that have elapsed, the total for the sector shows an expansion of 7.1% when compared to the same period last year.

Machinery and equipment

The machinery and equipment sector continues to record high annual growth figures. In November the section showed a growth of 28.4%, thus accumulating an advance of 43% compared to the first eleven months of last year. Of course, the activity that drives the sector is the automotive industry, which produced 42.7% more vehicles in November than those registered last year.

Non-metallic minerals

A slowdown can be seen in the sector linked to construction. After several months with double-digit expansions, and a cumulative 27% with one month to close the year, in November the advance was barely 0.5%. The most representative line of the sector, portland cement, registered an annual increase of 1.5%, after showing advances of 6.1% and 7.4% yoy in the previous two months.

Basic Metallic

The steel industry registered an annual expansion of 8.4% for November, accumulating growth of 34.6% for the January-November period. In the eleventh month, a heterogeneous behavior was observed between the lines. Thus, primary iron grew 45.2%, while crude steel rose 15.4% and aluminum 14.3%, and cold-finished rolled products fell 24.2%, in line with the evidence in previous months .