The industry’s turnover sank 12.2% in March compared to the same month in 2023, its largest decline since May 2020, in the midst of the pandemic, according to data released this Tuesday by the National Institute of Statistics (INE). ).

With the decline in March, industry sales put an end to two consecutive months of positive rates after having risen 1.5% and 1.4% in January and February, respectively.

The decline in industry turnover in March was the result of the year-on-year declines in sales recorded in intermediate goods (-18.7%), durable consumer goods (-17.7%), capital goods (-11 .9%) and non-durable consumer goods (-8.1%). In contrast, sales only rose in energy (1.9%).

The branches where sales fell the most in March, in an interannual rate, were metallurgy (-25.2%), the manufacture of milling products (-24.1%) and the graphic arts (-23.5%). The only increase in turnover was recorded by naval, railway, aeronautical and space construction and combat vehicles, with a year-on-year increase of 2.4%.

Corrected for seasonal and calendar effects, the industry’s turnover increased by 0.2% year-on-year in the third month of the year.

In monthly rate (March over February), industry turnover decreased by 0.6%, its largest monthly drop since November 2023.

In the first quarter of the year, the industry’s turnover fell by an average of 3.6%, highlighting the decrease in the manufacture of household appliances (-16.6%) and the increase in shipbuilding, railways, aeronautics, space and of combat vehicles (8.3%).


In March, the industry’s turnover fell year-on-year in all autonomous communities.

The largest year-on-year declines in turnover were recorded in Asturias (-22.1%), Valencian Community (-18.6%), La Rioja (-17.6%), Cantabria (-16.9%) and Madrid ( -16.8%).

For their part, the most moderate falls occurred in the Canary Islands (-0.7%), and Extremadura and Andalusia, both with a year-on-year decrease in sales of 1.6%.