Industrial production up 3.6% y.o.y. in December

Manufacturing

In December 2021, the volume of industrial production grew by 5.8% year-on-year based on raw data and by 3.6% based on working-day data, according to data released by the Central Statistical Office (KSH).

Out of the manufacturing subsections production decreased only in the largest weight representing one: the manufacture of transport equipment compared to December 2020. The decline was mainly caused by the fact that due to the global semiconductor shortage factories were working at lower capacity or on a one-shift basis.

The manufacture of computer, electronic and optical products and the manufacture of food products, beverages and tobacco grew considerably.

Industrial output in December – according to seasonally and working-day adjusted indices – was 0.1% below the level of the previous month.

In 2021, the volume of production was 9.6% higher compared to 2020.

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