Industrial production down 3.4% y.o.y. in October

Manufacturing

In October 2021, the volume of industrial production fell by 3.4% year-on-year, according to raw data published by the Central Statistical Office (KSH).

Based on working-day adjusted data production declined by 2.7%.

Increases were recorded in the majority of the manufacturing subsections, including the manufacture of food products, beverages, and tobacco products. However, the manufacture of transport equipment representing the largest weight dropped significantly. The decline was caused by the fact that, due to the global semiconductor shortage, factories were working at lower capacity or on a one-shift basis. Output also decreased in the manufacture of computer, electronic and optical products.

In the first 10 months of the year, production was 10.8% higher than in the same period of 2020

Industrial output in October – according to seasonally and working-day adjusted indices – was 0.3% above the level of the previous month, KSH notes.

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