Industry and construction recover against the previous month and fall in the year-on-year comparison
In February, both the industry and construction had a slight recovery compared to the previous month. However, both indicators continue to show important drops at the year-on-year level.
Therefore, from the Ministry of Finance stressed that “February construction data and industry reinforce the hypothesis that the recession would have touched its floor in November and that from December the economy was already in the recovery phase,” he said it’s a statement.
The official data showed concretely that, in the Construction, the cumulative of the original series index during the first two months of 2019, accumulated a decrease of 10.7% with respect to the same two-month period of the previous year. And the index of the seasonally adjusted series showed a positive variation of 0.2%.
According to official data, the first two-month period of the industrial indicator showed a decrease of 9.7% compared to the same period of 2018. In addition, according to the official survey, the trend-cycle series index registered a positive variation 0.3% compared to the previous month.
In the opening by sectors, the group of “Food and beverages” had a decrease of 0.1%, “Tobacco products”, showed a rise of 9.5%, “Textile products” fell 9%, “Garments , leather and footwear “showed a decrease of 5.3%,” Wood, paper, edition and printing “fell 4%, and” Refining of petroleum, coke and nuclear fuel “showed a fall of 8.5%.
On the other hand, “Substances and chemical products” showed a retraction of 2%, “Rubber and plastic products” registered a decrease of 5.4%, “Non-metallic mineral products” fell 4.3%, “Basic metal industries” They fell 34.0%. Among other falls were aligned: “Metal products”, 2.1%; “Machinery and equipment”, 31.6%; “Other equipment, devices and instruments”, 27%; “Motor vehicles, bodies, trailers and auto parts”, 11.3%; “Other transport equipment”, 41.8% and, finally, the division “Furniture and mattresses, and other manufacturing” showed a fall of 0.3%.