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Industrial Production Falls in August

Manufacturing

Photo by MATAZ / Shutterstock.com

The volume of industrial production dropped in August 2023 by 5.3% year-on-year. Based on working-day-adjusted data, production declined by 6.1%, the Central Statistical Office (KSH) writes.

The majority of the manufacturing subsections contributed to the production decline. Out of the subsections having the largest weight the manufacture of electrical equipment grew at the highest rate, but the manufacture of transport equipment increased, too, at the same time the volume of production fell in the manufacture of computer, electronic and optical products, as well as in that of food products, beverages and tobacco products.

In the first eight months of the year, industrial production was 4.6% lower than in the same period of 2022.

Industrial output in August – according to seasonally and working-day adjusted indices – was 2.4% below the level of the previous month, KSH notes.

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