Industrial production increased by 2%

Based on seasonally and working day-adjusted data, industrial output increased significantly compared to the previous month, by 3.8%, correcting the decline of the previous months.

The stagnation of industrial production at the beginning of the fourth quarter was mainly caused by the reduction or stoppage of production in energy-intensive sectors as a result of the explosion of energy prices, while in November the problems related to oil refining also worsened the performance of the industry (which partly contributed to the fuel supply disruptions at the end of November and the beginning of December). , however, the production of the domestic oil refinery was subsequently restored.

By October 2020, industrial production had fully recovered from the crisis caused by the epidemic, however, further vigorous growth was hampered by the lack of chips, so industrial production fluctuated close to the pre-epidemic level, slightly exceeding it, from which it took a definite boost from the beginning of last year, and in September reached a new historical peaked. Compared to the 2015 average, industrial production increased by 27.8%, while it exceeded the 2010 average production level by 56.2%. The year before last, industrial production expanded by a total of 9.6%.