Industrial production up in August

Manufacturing

Photo by Oscar Sweep / Shutterstock.com

In August 2021, the volume of industrial production grew by 2.6% year-on-year, according to raw data. Based on working-day adjusted data production rose by 0.6% compared to August 2020, the Central Statistical Office (KSH) reports.

According to seasonally and working-day adjusted data industrial output was 2.7% lower than in July 2021.

Production volume slightly surpassed the pre-pandemic, August 2019 level.

The majority of the manufacturing subsections contributed to the growth, however, the manufacture of transport equipment representing the largest weight dropped significantly, KSH notes. Factory shutdowns due to the global shortage in semiconductors contributed primarily to the decline. Output also decreased in the manufacture of computer, electronic and optical products, at the same time the manufacture of food products rose.

In the first eight months of the year, production was 15.3% higher than in January-August 2020.

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