Industrial production falls against previous month while still higher y-o-y

Newsroom 12/10/2015 | 15:10

August 2015 brought a decrease in industrial production compared to the previous month, both as gross series (18.4 percent) and as adjusted series (0.5 percent), according to data released by the National Institute for Statistics.

As gross series, all three industrial sectors showed decreases, the largest being recorded in manufacturing (‐20.5 percent), while gas, steam and air conditioning supply and mining and quarrying dropped at a slower pace (‐1.1 percent and ‐0.2 percent, respectively.)

As adjusted series by number of working days and seasonality mining and quarrying (‐2.3 percent) and manufacturing (‐0.3 percent) showed decreases, while electricity, gas, steam and air conditioning supply was up 0.6 percent.

Year on year, industrial production went up both as gross and adjusted series (6 percent and 3.6 percent, respectively), due to rises in electricity, gas, steam and air conditioning supply (9.3 percent gross series and 7.9 percent adjusted series) and in manufacturing (7.0 percent gross series and 3.9 percent adjusted). Mining and quarrying dropped 19.2 percent (as both gross and adjusted series).

During the first eight months of the year numbers showed overall rises for industrial production both as gross series (2.9 percent) and as adjusted series (3.2 percent), when compared to the same period of last year. During this period manufacturing and the electricity, gas, steam and air conditioning supply registered rises in both unadjusted series (3.5 percent and 1.9 percent) and adjusted numbers (3.6 percent and 2.3 percent, respectively). Mining and quarrying dropped (9.2 percent and 8.7 percent).