Industrial production down sharply in July

Central Statistical Bureau data published September 4 show that, compared to July 2022, in July 2023 industrial production output reduced by 8.7 %. 

Industrial production output fell in two out of three sectors having the largest share in manufacturing: manufacture of wood and of products of wood and cork, except furniture, and manufacture of fabricated metal products, except machinery and equipment (by 1.6 % and 8.4 %, respectively).

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The monthly figure was also down. Compared to June 2023, in July 2023 industrial production output fell by 2.8 % (seasonally adjusted data at constant prices). Output in manufacturing reduced by 1.7 %, in mining and quarrying by 4.4 % and in electricity and gas supply by 14.0 %. 

Compared to July 2022, in July 2023 manufacturing turnover reduced by 6.1 % (calendar adjusted data at current prices). Turnover on domestic market went down by 2.4 % and on non-domestic market by 8.1 % (of which by 4.3 % in euro area and by 11.2 % in non-euro area).

Compared to June 2023, in July 2023 manufacturing turnover rose by 0.3 % (seasonally adjusted data). Turnover on the domestic market increased by 1.6 % and on non-domestic market reduced by 0.4 % (of which rise of 0.3 % in euro area and drop of 0.9 % in non-euro area).

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