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Industrial Production Declines in April

Manufacturing

Image by Pixabay

The volume of industrial production grew in April 2024 by 6.4% year-on-year, however, based on working-day adjusted data, production declined by 2.4%, the Central Statistical Office (KSH) reports.

Compared to crude data, the significant difference is due to the fact that there were three more working days in this month than in April 2023, KSH notes.

According to seasonally and working-day adjusted data, industrial output was 0.7% lower than in March 2024.

The majority of the manufacturing subsections contributed to the production growth. Out of the subsections having the largest weight the manufacture of transport equipment, the manufacture of computer, electronic and optical products, as well as the manufacture of food products, beverages, and tobacco products increased year-on-year, at the same time the manufacture of electrical equipment products declined.

In the first four months of the year, production was 1.7% lower than in the same period of 2023. Industrial output– according to seasonally and working-day adjusted indices – was 0.7% below the level of the previous month.

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