Press Release: Industrial Production Index (IPI). May 2025. Provisional data.

Main results

The annual rate of the Industrial Production Index was 1.7% in the series adjusted for seasonal and calendar effects, and -0.8% in the original series.
The monthly variation in the Industrial Production Index was 0.6% if seasonal and calendar effects are removed.

More information

Annex of tables (includes information on AC and original and sector-adjusted series)
Detailed results

The Industrial Production Index, adjusted for seasonal and calendar effects, recorded a variation rate of 1.7% in May, as compared to the same month of the previous year. This rate was 1.1 points higher than that registered in April.

The original IPI series experienced an annual variation of -0.8%. This rate was 4.9 points higher than that of April.

General Industrial Production Index

Annual rate. Percentage

{
  "mode": "chart",
  "type": "lineasprensa",
  "width": "170mm",
  "height": "90mm",
  "legend": true,
  "valueAxis": true,
  "tags": false,
  "series": [
    {
      "label": "Original"
    },
    {
      "label": "Seasonally adjusted"
    }
  ],
  "ticks": [
    "may-23",
    "jun-23",
    "jul-23",
    "aug-23",
    "sep-23",
    "oct-23",
    "nov-23",
    "dec-23",
    "jan-24",
    "feb-24",
    "mar-24",
    "apr-24",
    "may-24",
    "jun-24",
    "jul-24",
    "aug-24",
    "sep-24",
    "oct-24",
    "nov-24",
    "dec-24",
    "jan-25",
    "feb-25",
    "mar-25",
    "apr-25",
    "may-25"
  ],
  "values": [
    [
      "-1.0",
      "-2.3",
      "-2.4",
      "-4.5",
      "-4.8",
      "0.6",
      "0.3",
      "-4.9",
      "3.9",
      "4.2",
      "-12.1",
      "11.9",
      "-0.2",
      "-4.4",
      "4.4",
      "-3.8",
      "0.2",
      "6.4",
      "-3.5",
      "4.3",
      "-1.4",
      "-2.3",
      "8.2",
      "-5.7",
      "-0.8"
    ],
    [
      "-4.0",
      "-2.0",
      "-2.1",
      "-3.3",
      "-2.8",
      "-1.6",
      "0.2",
      "-2.0",
      "0.3",
      "2.8",
      "-1.2",
      "-0.3",
      "-0.1",
      "0.3",
      "-0.7",
      "-0.7",
      "0.7",
      "2.6",
      "-0.8",
      "2.1",
      "-1.2",
      "-1.8",
      "0.7",
      "0.6",
      "1.7"
    ]
  ],
  "ratioMargen": 0.05,
  "angleTick": "-90",
  "angleTag": "0",
   "fillToZero": true,
  "colors": [
    "#457E76",
    "#A45C0A",
    "#0071AD",
    "#756F0F",
    "#C33C9D",
    "#677746"
  ]
}

By sectors, and in indexes adjusted for seasonal and calendar effects, Non-durable consumer goods (2.5%) presented the highest annual rate. Meanwhile, Intermediate goods (0,0%) recorded the lowest rate.

Annual rates of the industrial production index: General and by economic use of the goods. May 2025

Percentage

Monthly evolution of industrial production

After adjusting for seasonal and calendar effects, the monthly variation of the Industrial Production Index (IPI) between May and April was 0.6%. This rate was 1.3 points higher than that observed in April.

General Industrial Production Index

Adjusted for seasonal and calendar effects. Monthly rate. Percentage

{
  "mode": "chart",
  "type": "barrasprensa",
  "width": "170mm",
  "height": "90mm",
  "legend": false,
  "valueAxis": false,
  "tags": true,
  "series": [
    {
      "label": "Monthly rate (%)"
    }
  ],
  "ticks": [
    "may-23",
    "jun-23",
    "jul-23",
    "aug-23",
    "sep-23",
    "oct-23",
    "nov-23",
    "dec-23",
    "jan-24",
    "feb-24",
    "mar-24",
    "apr-24",
    "may-24",
    "jun-24",
    "jul-24",
    "aug-24",
    "sep-24",
    "oct-24",
    "nov-24",
    "dec-24",
    "jan-25",
    "feb-25",
    "mar-25",
    "apr-25",
    "may-25"
  ],
  "values": [
    [
      "-0.8",
      "0.6",
      "-0.3",
      "-0.9",
      "0.7",
      "-0.5",
      "1.5",
      "-1.7",
      "2.1",
      "1.4",
      "-1.8",
      "-0.5",
      "-0.6",
      "1.0",
      "-1.2",
      "-0.9",
      "2.2",
      "1.3",
      "-1.8",
      "1.1",
      "-1.2",
      "0.8",
      "0.7",
      "-0.7",
      "0.6"
    ]
  ],
  "ratioMargen": 0.2,
  "angleTick": "-90",
  "angleTag": "0",
  "fillToZero": true,
  "colors": [
    "#457E76",
    "#A45C0A",
    "#0071AD",
    "#756F0F",
    "#C33C9D",
    "#677746"
  ],
  "config": {
    "marcaTick": {
      "color": "#9e1834",
      "value": "may-25"
    }
  }
}

By sector, Energy (2.1%) had the most positive monthly rate. Meanwhile, Durable consumer goods (-0.5%) recorded the lowest rate.

Results by Autonomous Communities. Annual variation rates of industrial production. Original series

The annual rate of industrial production increased as compared with May 2024 in seven Autonomous Communities and decreased in the other ten.

General index: national and by Autonomous Communities. May 2025

Annual rate. Percentage

{
  "mode": "chart",
  "type": "barrashorizontalesprensa",
  "width": "170mm",
  "height": "150mm",
  "legend": false,
  "valueAxis": false,
  "tags": true,
  "series": [
    {
      "label": "Annual rate(%)"
    }
  ],
  "ticks": [
    "País Vasco",
    "Rioja, La",
    "Extremadura",
    "Canarias",
    "Comunitat Valenciana",
    "Navarra, Comunidad Foral de",
    "Cataluña",
    "Murcia, Región de",
    "Madrid, Comunidad de",
    "Galicia",
    "NATIONAL",
    "Castilla - La Mancha",
    "Balears, Illes",
    "Asturias, Principado de",
    "Cantabria",
    "Castilla y León",
    "Aragón",
    "Andalucía"
  ],
  "values": [
    [
      "-7.0",
      "-5.4",
      "-3.5",
      "-3.4",
      "-3.1",
      "-2.7",
      "-2.2",
      "-2.1",
      "-1.7",
      "-1.5",
      "-0.8",
      "0.2",
      "0.8",
      "3.1",
      "3.5",
      "3.6",
      "4.9",
      "6.3"
    ]
  ],
  "ratioMargen": 0.15,
  "angleTick": "0",
  "angleTag": "0",
  "fillToZero": true,
  "colors": [
    "#457E76",
    "#A45C0A",
    "#0071AD",
    "#756F0F",
    "#C33C9D",
    "#677746"
  ],
  "config": {
    "marcaTick": {
      "color": "#9e1834",
      "value": "NATIONAL"
    }
  }
}

Data revisions and updates

INE has today updated the IPI data for the last two months. In the case of the series adjusted, the series have been reviewed from the beginning, following the INE standard. All the results of this operation are available at INEbase.

In accordance with the Commission's Delegated Regulation (EU) 2023/137 the INE has begun to work on incorporating the new National Classification of Economic Activities CNAE-2025 in all its statistical operations.

In the case of the IPI, the first publication of results with CNAE-2025 will take place in March 2028.

Methodological note

The Industrial Production Index (IPI) is a short-term indicator that measures the monthly evolution of the productive activity of the industrial branches, excluding construction, contained in the National Classification of Economic Activities 2009 (CNAE-2009). It therefore investigates the activities included in sections B, C, D and division 36: Water collection, treatment and supply, from section E of the CNAE-2009.

The IPI measures the joint evolution of quantity and quality, eliminating the influence of prices.

Type of survey:: monthly continuous survey.
Base year:: 2021.
Population scope:: industrial establishments whose main activity is included in sections B, C, D and division 36 of the CNAE-2009.
Geographical scope:: the entire national territory.
Sample size:: 11,500 industrial establishments and more than 1,100 products.
Collection method:: internet (IRIA system), e-mail, fax, telephone or postal mail.

More information is available in the methodology and in the standardised methodological report.

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information in Quality at INE and the Code of Best Practices.