Increase in industrial production in October welcomed

The government welcomed statistics released by the National Statistics Office confirming a 0.7% increase in industrial production in October.

“This improvement reflects substantial increase in capital production and consumption goods,” it said.

The improvement was also reflected in increase in exportation. In October 2014, exports increased to €335 million compared to the €243 million registered in October 2013. This increase was also spread over several manufacturing sectors.

“The results are consistent with the optimism shown by industrial companies in surveys regularly carried out by the European Commission. The majority of operations are registering an increase in production. This will lead them to increase workers.

“While in the previous five years there was a job lost every day, this administration turned around the sector in that two jobs were created in the manufacturing sector every day.”

The government added that budgetary measures, the reduction of tariffs for businesses and stability in fuel prices is set to result in more positive results for the industrial sector which has been stagnated for several years.