Industrial production drops by 9.5 percent

The volume of industrial production dropped in August 2024 by 9.5% based on working-day adjusted data, production declined by 4.1%, year-on-year,the Central Statistical Office said.

Compared to crude data, the significant difference is due to the fact that there were two less working-days in this month than in August 2023. According to seasonally and working-day adjusted data, industrial output was 0.5% lower than in July 2024.

Production volume fell in August 2024 in the great majority of the manufacturing subsections. Output grew only in three subsections, at the highest rate in the manufacture of chemicals and chemical products.

In the first eight months of the year production was 3.8% lower than in the same period of 2023.

Industrial output– according to seasonally and working-day adjusted indices – was 0.5% below the level of the previous month.