Industrial production drops 2.4% in March
In March 2018, the volume of industrial output declined by 2.4% compared to last year’s high base. Based on working day-adjusted figures, however, production grew by 1.9%, according to a first estimate of monthly data by the Central Statistical Office (KSH).
The significant difference between the raw and adjusted figure is due to the fact that there were two fewer working days in March 2018 than in March 2017, the KSH noted.
In January-March this year, production was 2.5% higher compared to the corresponding three-month period of last year.
Industrial output in March – according to seasonally and working day-adjusted indices – was 0.7% below the level of the previous month.
A second, more detailed estimate of industrial output data for March 2018 will be published on May 14.
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