Industrial production down by 0.5% in a month

The National Statistics Office said that provisional seasonally adjusted data for July indicated that industrial production declined by 0.5% over June. However, comparing working day adjusted indices on an annual basis, industrial production increased by 2.9%.

The overall index of industrial production for July stood at 105.1 points. NSO said that the two main industrial groupings that improved over the previous month were energy and consumer goods.

These main industrial groupings reported monthly increases of 0.8 and 3.2% respectively.

"These outcomes were offset by negative movements in the index for intermediate and capital goods, by 0.1 and 0.7% respectively," it said.

When compared to the corresponding month last year, the working day adjusted index of industrial production went up by 2.9%.

NSO said that all the main industrial groupings contributed to this overall increase, the most notable increases being recorded in intermediate and non-durable consumer goods, by 5.5 and 5.2% respectively.