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he had Never seen a comparable decline. The Industrial Production Index (IPI) fell in April to 33.6% in interannual terms. This is the biggest collapse of the historical series, which dates back to 1975. is not even the figure was a collapse in the last economic crisis. In the fourth month of 2009, the last negative record of the statistics, the drop was 28.4 per cent.

“The declaration of a state of alarm, and the entry into force of the permit paid recoverable for workers employed by others and not providing essential services, have led to a paralysis of almost the greater part of the fabric of industrial production”, says the press release of the National Statistics Institute (INE) . There is No way to make up the numbers, or by correcting the series for seasonal and calendar effects, which throws the same data. The confinement and the stop total of the economy are the cause of this drama, although the trend was already signing up from a month before. In march, industrial production has already dropped by 11.7% and, then, since it was anticipated that the crisis in this sector came to stay, having regard to the progress of the pandemic Covid-19. is so much so that in April nearly tripled the drop .

The crash is practically widespread in all branches of activity. But there is one that cup all the looks: the automotive industry. In your case, production collapsed in the fourth month of the year 92% , never seen in the historical series. This is equivalent to the fact that the automotive industry was practically stopped at the full, vs. a decline of 39.7 per cent in march.

The textile industry was another area that suffered the most in April the paralysis of the economy. The manufacture of garments industry and leather and footwear suffered negative data for 77.2% and 73.5%, respectively. In both cases, the index hadn’t seen anything like that in the historical series.

The only activity that is saved is pharmaceutical production . And, to a lesser extent the pulp and paper industry and also the power. In the first case, the index only fell in April by 0.4% in year-on-year; in the second, 4.7 per cent; and in the third, 7.3%.

Activity unrecoverable

Raymond Torres, director of Juncture of Funcas, says that the data of April is a continuation of the march due to the total closure of the economy, but that from may would have to start to be corrected the fall before the spin, although slow, to the activity.

the evolution of The registered unemployment realizes that the trend would have started to invest in the fifth month of the year. The unemployed in the industry were 327.249, 0.08% less in year-on-year. Respect to the end of February, unemployment in this sector has increased in almost 52,000 people until may , despite the containment of the fall in the last few weeks.

beyond this, Torres points out that a part of that industrial production will not recover ever. The crisis of the Covid-19 has swept away entire factories, with the automotive sector in the target. Proof of this is the closure of the plant of Nissan in Barcelona. In this case, this expert stresses that the automotive will be the branch most affected; even more taking into account that -as says Torres – ya before you came acometiéndose a transformation in the sector.