Industrial production up in August

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BBJ

Thursday October 7, 2021, 1:00 p.m.

Photo by Oscar Sweep / Shutterstock.com

In August 2021, the volume of industrial production increased 2.6% year on year, according to raw data. Based on data corrected for working days, production increased 0.6% from August 2020, reports the Central Statistical Office (KSH).

Based on data adjusted for seasonal variations and working days, industrial production was 2.7% lower than in July 2021.

The production volume is slightly above the level before the pandemic of August 2019.

The majority of manufacturing sub-sections contributed to the growth, however, the manufacturing of the largest weight transportation equipment declined significantly, notes KSH. The main contributors to the decline were plant closures due to the global semiconductor shortage. Production also declined in the manufacturing of computer, electronic and optical products, while the manufacturing of food products increased.

In the first eight months of the year, production was 15.3% higher than in January-August 2020.

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