According to preliminary information, the Imacec increased 0.2% in September 2026, compared with the same month of the previous year (Table 1). The seasonally adjusted series rose 1.9% from the previous month and decreased 0.9% annually . The month had one more working day than September 2025.

The Imacec result reflected an increase in non-mining industries , which increased 2.0%. This growth was offset by a decrease in mining production (Figure 1). Conversely, the mining industry was the largest contributor to the increase in the seasonally adjusted Imacec (Figure 2).

The seasonally adjusted non-mining Imacec rose 0.9% from the previous month and 0.8% annually.

Analysis by industry

1. Goods-producing industries

Goods-producing industries decreased 2.0% compared with the same month of the previous year, driven by a fall of 12.1% in the mining sector. This result reflected a decrease in copper mining, driven by lower ore grades and temporary operational shutdowns. Conversely, other goods-producing industries increased 4.0%, due to the growth in value added of electric power generation, driven by an increase in water availability. Fishing also contributed positively to the increase in other goods-producing industries. Manufacturing industry increased 4.5%, reflecting growth in the processing and preserving of fish and in the manufacture of fabricated metal products, machinery and equipment.

The seasonally adjusted series for goods-producing industries increased 3.2% from the previous month, mainly driven by the mining industry, which was affected by maintenance disruptions and adverse weather conditions during August.

2. Wholesale and retail trade

Wholesale and retail trade grew 4.5%, compared with the same month of the previous year. All trade categories grew, with wholesale and retail trade showing the largest contributors to this growth. The increase in wholesale trade was driven by sales of household goods and food. Major contributors to retail trade increase were sales of food and clothing in specialized stores and through digital platforms. Sales and repairs of motor vehicles also contributed positively, driven by an increase in maintenance services.

The seasonally adjusted series for wholesale and retail trade rose 2.5% from the previous month, mainly driven by wholesale trade, followed by retail trade.

3. Services sector

Services-producing industries grew 0.9% compared with the same month of the previous year. Personal services, particularly health care, were the largest contributors to growth. Transportation also contributed positively.

The seasonally adjusted series for services-producing industries increased 0.9% from the previous month, reflecting an increase in business and transportation services.

According to the National Accounts release schedule, the preliminary GDP results for the third quarter of the current year, as well as the revisions for the first and second quarters, will be released on Wednesday, 18 November.

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*The Spanish original prevails.