Industrial production plunged a calendar-adjusted 12.7% year-on-year in May, following a 15.8% slump in the previous month.

Production has been falling since June last year.

Among the main sectors, electricity production decreased the most by 31.5% year-on-year, followed by manufacturing with a 13.1% drop.

On the other hand, mining output recovered markedly, by 36.3%. On a seasonally adjusted basis, industrial production climbed 2.2% monthly in May, reversing a 2.2% decline in April. It was the first increase in five months.