Industrial production leaps in August

Industrial output recorded a sudden surge in August, rising by 7.5% compared with August 2004, after two consecutive months of decline.

All categories of industry (manufacturing, electricity, gas & water, and mining & quarrying) recorded an increase.

One reason for the increase in this traditionally quiet month could be catch-up after the truckers’ strike in July, which left many producers without raw materials.

Mining rose the most in August, by 12.1% year on year, followed by electricity, gas and water, up by 10.2% and manufacturing up by 6.1%.

The breakdown of manufacturing shows that the main recovery in August was recorded in output of leather and leather products, up by 22.1% year on year. However, this sector has been in steep decline for many years, therefore one month of increase may not turn into a trend.

Output of transport equipment also rose strongly in August, by 15.4%. In January to August, transport equipment output was up 3.2% on the same period of 2004.

Overall industrial production rose by 0.8% year on year in the first eights months; manufacturing fell by 1.0% in the same period; electricity gas and water rose by 7.5% and mining rose by 1.5%. FM