The year-on-year growth rate stood at 15.31%, which, according to the National Statistics Institute (INE), represents an increase of 5.69 percentage points compared to the same period in 2024.
The Industrial Production Index (IPI) recorded a monthly change of 1.14% in November 2025, representing a decrease of 4.26 percentage points (p.p.) compared to October, according to data from the National Statistics Institute (INE).
Data consulted by Economia & Mercado (E&M) indicate that the manufacturing industry posted the highest growth, at 12.26%, while Water Collection, Treatment and Distribution and Sanitation recorded the lowest growth, at -5.46%.
Meanwhile, the industries that contributed most to the change in the IPI were Manufacturing, with 3.58 percentage points, and Electricity, Gas and Steam Production and Distribution, with 0.28 p.p.
The year-on-year growth rate stood at 15.31%, which, according to INE, represents an increase of 5.69 percentage points compared to the same period in 2024. The IPI recorded a cumulative change of 20.76% in November 2025.
Analyzing the Industrial Production Index by type of goods, Consumer Goods showed the highest variation, at 15.09%, followed by Investment Goods, at 3.34%, Energy Products, at -1.19%, and Intermediate Goods, at -10.16%.
Turnover
The Turnover Index recorded a negative monthly variation of 4.41%, representing an increase of 0.94 percentage points compared to the previous month.
According to INE’s Rapid Intervention Sheet (FIR), the year-on-year variation was also negative, standing at 32.99%, reflecting a drop of 37.23 percentage points compared to the same period of the previous year.
The Extractive Industry contributed the most negatively to the monthly variation, with 5.50 percentage points. The Turnover Index recorded a cumulative variation of -31.69% in November 2025.
Analyzing the Turnover Index by type of goods, Intermediate Goods recorded the highest variation, at 11.35%, followed by Consumer Goods, at 7.65%, Investment Goods, at 5.23%, and Energy Products, at -6.84%.
Source: Economia & Mercado
