Industrial output up in July

Data released July 5 from the Central Statistical Bureau (CSB) show that, compared to July 2015, in July 2016 industrial production output increased by 2.7 % (according to calendar adjusted data at constant prices). 

Manufacturing accounted for 3.4 % of the rise, electricity and gas supply for 3.2 %, while in mining and quarrying there was a drop of 9.6 %.

The most notable production output increase was recorded in manufacture of basic pharmaceutical products and manufacture of computer, electronic and optical products.

A significant rise was also recorded in two out of the three manufacturing sectors having the largest share in the industrial production: manufacture of wood and of products of wood (of 3.9 %), and manufacture of fabricated metal products, except machinery and equipment (of 9.2 %).

A reduction, in turn, was observed in manufacture of food products (of 3.6 %), repair and installation of machinery and equipment (of 16.2 %), and manufacture of furniture (of 4.2 %).

The finance Ministry said the data showed further evidence of "stable growth trends" in the industrial sector.

Compared to June 2016, in July 2016 industrial production output declined by 1.9 % (according to seasonally adjusted data).

However, compared to July 2015, in July 2016 manufacturing turnover decreased by 2.4 % and compared to June, in July 2016 manufacturing turnover declined by 0.6 %.

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