According to the statistics released by Spain's National Institute of Statistics (INE) on November 5, the country's general industrial production index (IPI) adjusted for calendar effects declined by 12.5 percent in September compared to same month last year. In August, the IPI had decreased 12.7 percent year on year.
Meanwhile, in the first nine months of 2009, Spain's average calendar-adjusted IPI decreased by 18.8 percent compared to the corresponding period of 2008. In the given period, manufacture of iron and steel products was one of the industries which witnessed a significant decrease in the IPI, with a year-on-year decline rate of 31.7 percent.