Industrial production increased by 39.1% y.o.y. in May

Manufacturing

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In May 2021, the volume of industrial production exceeded by 39.1% the low base level of last year’s May, according to data by the Central Statistical Office (KSH).

Based on working-day adjusted data production rose by 40.2%.

According to seasonally and working-day adjusted data industrial output was 3.4% higher than in April 2021.

Production level was similar to the figures registered in May 2019, before the pandemic.

All manufacturing subsections contributed to the growth. The manufacture of transport equipment representing the largest weight increased outstandingly, primarily due to the low base value caused by factory shutdowns, as well as by the one-shift work schedule in May of the previous year. The manufacture of computer, electronic and optical products and the manufacture of food products, beverages, and tobacco rose at a rate below the industrial average.

In the first five months of the year, production was 18.1% higher than in the same period of 2020.

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