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Industrial Production Decreases in May

Manufacturing

Image by Pixabay

The volume of industrial production dropped in May 2024 by 5.2% year-on-year, based on working-day adjusted data, production declined by 4.9%. According to seasonally and working-day adjusted data, industrial output was 1.1% lower than in April 2024, the Central Statistical Office (KSH) reports.

Production volume declined in the majority of the manufacturing subsections compared to the same month of the previous year.

Out of the subsections having the largest weight a fall was observed in the manufacture of transport equipment, in the manufacture of electrical equipment, as well as in the manufacture of computer, electronic and optical products, while the manufacture of food products, beverages, and tobacco products increased.

In the first five months of the year, production was 2.4% lower than in the same period of 2023.

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