Industrial production decreased, food, beverage and tobacco production increased

By: Trademagazin Date: 2024. 07. 05. 11:58

In May, the volume of industrial production was 5.2 percent, or 4.9 percent less than a year earlier, adjusted for the working day effect. As of April 2024, industrial output decreased by 1.1 percent based on seasonally and working day-adjusted data, the Central Statistics Office (KSH) reported on Friday based on its first estimate.

In the majority of the manufacturing subsectors, the volume of production decreased compared to the same month of the previous year. Among the most weighty sub-sectors, there was a decline in vehicle manufacturing, electrical equipment manufacturing, and computer, electronic, and optical product manufacturing, while food, beverage, and tobacco manufacturing increased.

Industrial production in the first five months of the year was 2.4 percent lower than in the same period of 2023.
The detailed data on industrial production for May will be published on July 12 by the KSH based on its second estimate.

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