Industrial production down 3.4% yoy in October

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

Based on data corrected for working days, production decreased by 2.7%.

Increases were recorded in the majority of manufacturing subsections, including food, beverage and tobacco manufacturing. However, the manufacture of the most important transport equipment has declined considerably. The drop was caused by the fact that due to the global semiconductor shortage factories were working at a lower capacity or on a shift basis. Production also fell in the manufacturing 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 production in October – according to indexes adjusted for seasonal variations and working days – was 0.3% higher than the previous month’s level, notes KSH.

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