Factory output drops 5.9% in August

Factory output, adjusted for working days and seasonal changes, dropped in August by 5.9% compared to the same period of last year, led by decreases in quarrying and processing output, according to data provided by the National Institute of Statistics.
Manufacturing output fell in August for the eighth successive month. However, figures show signs of recovery after the December 2008 historic low.

Year on year, industrial production decreased by 3% in October 2008, by 11.5% in November, and by 18% in December, only to stabilize near 12% in the first three months of 2009. In April, manufacturing output fell 9.5% compared to the same period of last year, in May it dropped 9.8%, in June 8.9% and in July by 6.9%. September 2008 was the last month of growth in industrial output with a 3% advance year-on-year.

In August 2009, mining and quarrying output dropped 17.2% from year-ago period, while processing output decreased by 7.5%. Electricity, gas, water supply and air conditioning increased by 14.8%.

Production of non-durable goods fell 9.1%, consumer durables fell by 8.8%, intermediary goods by 6.8% and capital goods by 2.8%. Electricity output rose 6.5%.

Compared to July 2009, manufacturing output, adjusted for working days and seasonal changes dropped 0.3% in August, pulled down by 0.5% decrease in processing, which was partially compensated by the 3.3% output growth in electricity, gas, water supply and air conditioning and by the 0.6% increase in mining output.

Month-on-month, production of energy increased by 2.7%, intermediary goods by 1% while durable consumer goods remained at the same level. Capital goods output dropped 3.8% and production of non-durable consumer goods fell 0.3%.

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