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Industrial output up 12% y-o-y in July

In July 2019, the volume of industrial output grew by 12% year-on-year, the highest rate in more than two years, with production rising by 8.7% based on working day-adjusted data, according to a first reading of data by the Central Statistical Office (KSH).

The KSH says that the vast majority of manufacturing subsections contributed to the increase.

The manufacture of transport equipment, representing the largest weight, went up significantly; at the same time, the manufacture of computer, electronic and optical products, as well food products, beverages and tobacco products grew, but at a rate below the industrial average.

Output was 6.3% higher in the first seven months of this year than in the corresponding period of the previous year.

Industrial output in July – according to seasonally and working day-adjusted indices – was 1.7% above the level of the previous month.

The KSH will publish a second, more detailed reading of the July data on September 12.