July index of industrial production up 5.9% on last year

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July index of industrial production up 5.9% on last yearIndustrial production rose by 5.9 per cent from 103.6 points in July 2009. This was attributed to an increase in the production of intermediate and capital goods which rose by 24.8 and 31.3 per cent respectively. On the other hand, the production of energy and consumer goods fell by 0.7 and 12.2 per cent respectively. The decrease in consumer goods was reflected in drops of 46.4 per cent in the production of durable goods and of 7.9 per cent in the production of non-durable goods.

At the NACE division level, industrial production rose, mainly on account of a 136.7 per cent increase in the manufacture of electrical equipment (NACE division 27). Furthermore, manufacture of motor vehicles, trailers and semi-trailers (NACE division 29), manufacture of textiles (NACE division 13), manufacture of basic pharmaceutical products and preparations (NACE division 21) and manufacture of computer, electronic and optical products (NACE division 26) experienced gains of 100.4, 38.4, 32.9 and 17.9 per cent respectively over the corresponding month last year. These increases were mitigated by declines in the manufacture of leather and related products (NACE division 15), printing and reproduction of recorded media (NACE division 18) and manufacturing of wearing apparel (NACE division 14), of 53.4, 49.6 and 33.9 per cent respectively over 2009.

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