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Industrial production down 1.2% y.o.y. in December

In December 2019 the volume of industrial production declined by 1.2% year-on-year. Based on working-day adjusted data, production dropped by 3.7%, according to data by the Central Statistical Office (KSH).

Production volume fell in nearly half of the manufacturing subsections. There was a decrease in the manufacture of transport equipment representing the largest weight.

The rate of growth slackened in the manufacture of computer, electronic and optical products. The manufacture of food products, beverages, and tobacco products continued to rise.

In 2019 the volume of production was 5.4% higher compared to the previous year.

Industrial output in December – according to seasonally and working-day adjusted indices – was 3.8% below the level of November.